Assembling economic data is a continuous process, dependent on information that’s sometimes incomplete or late in arriving, which can lead to dramatic corrections as happened in the US a few weeks ago. Another such shift happened in Nigeria last month when it was announced that the nation’s gross domestic product was suddenly more than 30% bigger. n nGathering figures for an emerging or frontier market isn’t straightforward — particularly given how much activity occurs outside the formal part of the economy that features salaried workers. Arguably, the revised look at Nigeria offers a more accurate picture. It remains the fourth-largest economy on the African continent, having lost its status as No. 1 two years ago, when President Bola Tinubu endorsed a more realistic exchange rate by letting the naira float more freely.
