Tinubu’s Economic Reforms Leave Nigeria’s GDP Less Than Half of Its 2022 Size — BudgIT
Explaining the figures, BudgIT stated: “Between 2022 and 2024, under the Tinubu administration and following the move to a floating exchange rate, nominal GDP fell from $645.68bn to $252.11bn in just two years.”
According to the organisation, Nigeria recorded its highest nominal GDP in 2014, when the economy was valued at $811.13 billion after the country’s GDP rebasing exercise, “Nigeria’s economy reached a record high of $811.13bn in 2014 after GDP rebasing, briefly making Nigeria Africa’s largest economy,” BudgIT said.