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Nigeria Adjusts GDP Figure To $510B, Strategizes Growth

Nigeria Adjusts GDP Figure To $510B, Strategizes Growth

It’s been almost 13 years since Nigeria rebased its economy and many expected the country to come out of top once official figures came in. According to CCTV Africa, Nigeria’s newest GDP figure hit an impressive $510 billion — a figure that can unexpectedly slow down growth for the nation.

“The bigger the economy…the more difficult it is to move at a high speed,” economist Biodun Adedipe told CCTV Africa. “We should in fact as policy makers look very closely at China. China is one big economy that has been able to perform that miracle of growing fast in spite of the size.”

The report noted that normal growth for Nigeria is around 6.5 percent. More so than continued and steady growth for the economy, the government is also strategizing ways to beat unemployment.