NBS to Launch Rebased GDP Knowledge Finish of January
The Nationwide Bureau of Statistics (NBS) has revealed that the main points of the newly rebased Gross Home Product will likely be launched on the finish of the month.
This was disclosed on Thursday on the sensitisation workshop on GDP and CPI rebasing organised by the Nigerian Financial Summit Group and the NBS in Lagos.
In October, the NBS introduced plans to rebase the GDP and CPI to replicate present realities and account for structural modifications within the financial system.
It was additionally revealed that 2019 has been picked because the rebase yr.
Throughout his presentation, the technical assistant to the Statistician Basic, Moses Waniko, revealed that the gathered information can be validated after which launched on the finish of the month.
He mentioned, “We’re at present concluding the rebasing. We have to validate the outcomes, after which now we have to do a launch; we’re wanting on the finish of January to try this launch, to disseminate the numbers, after which, often, there are post-rebasing actions that can occur.”
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Waniko added that the rebasing would have implications for the financial system.
He said, “It’s good to have a look at the rebasing from totally different angles, not simply the combination numbers, however to have a look at what these numbers are supposed to inform us, by way of the distribution, the combination numbers, by way of their weights, contributions and the remainder.
“Past that, there are different implications for the nationwide financial system, which now we have tried to place on this slide. The primary is rebasing will present or enable for an Financial and Growth Plan.
“The second is that the rebasing will actually assist to supply trajectory for the financial system. So past this, it’s vital to additionally state that after the rebasing, there are specific issues that we count on that may change, comparable to modifications within the measurement of the construction of the financial system.
“We count on that the scale of the financial system will likely be larger.
“The tax-to-GDP ratio is one thing that folks might wish to see what the numbers would seem like. Debt to GDP ratio of 18.5 per cent as of September 2019 might additionally cut back with the larger measurement of the GDP, after which per-capita revenue will enhance after the rebasing.”