The Nigerian Economic Summit Group (NESG), in collaboration with the National Bureau of Statistics (NBS), will hold a sensitisation workshop on Gross Domestic Product (GDP) and Consumer Price Index (CPI) rebasing.
A statement on Tuesday issued by Ayanyinka Ayanlowo, Head of Strategic Communication and Advocacy, NESG, explained that the event is slated for Thursday in Lagos.
Ayanlowo said, "The workshop aims to bring together stakeholders from the public and private sectors to deepen their understanding of the rebasing process, methodology and implications for Nigeria's economy.
"Statistics play an essential role in macro-economic management and policymaking.
"Following the United Nations Statistical Commission's recommendation, economic indicators like GDP and CPI should be rebased every five years.
"This ensures key economic indicators reflect current economic realities, including shifts in consumption patterns, global market exposure, the introduction of new products and services and changes in economic structures.
"This workshop seeks to clarify misconceptions surrounding GDP and CPI rebasing and build confidence in the statistical processes behind these updates.
