Nigeria’s Data Reforms Drive Economic Gains as Inflation Eases to 16.05%, GDP Grows 3.98%

Nigeria’s ongoing data and economic reforms are beginning to pay off, with inflation easing to 16.05 percent in November 2025 and the economy recording a real GDP growth of 3.98 percent in the third quarter, according to the Federal Government. The figures signal growing stability after years of volatility and underline the impact of evidence-based policy decisions.

The announcement was made in Abuja by Abubakar Atiku Bagudu, Minister of Budget and Economic Planning, at the launch of the Power of Data High Impact Initiative and the National Strategy for the Development of Statistics (NSDS) 2024–2028. The programmes are designed to strengthen Nigeria’s statistical system and ensure that government decisions are guided by accurate, up-to-date data.

Bagudu explained that since 2023, the government has backed the National Bureau of Statistics to carry out major reforms, including the rebasing of the Gross Domestic Product and Consumer Price Index, as well as the National Agricultural Sample Census—the first in more than three decades. These exercises, he said, are closing long-standing data gaps and providing a clearer picture of Nigeria’s economy.

According to the minister, the results are already visible. “Those tough decisions are now beginning to yield returns,” he said, noting that the third-quarter GDP growth was the second-highest recorded since the COVID-19 pandemic. He added that international confidence is also improving, with S&P Global Ratings upgrading Nigeria’s outlook to Positive and Fitch Ratings maintaining a Stable outlook.

Also speaking, the Statistician-General of the Federation and NBS Chief Executive Officer, Adeyemi Adeniran, said the newly launched NSDS is the most inclusive and strategic framework the bureau has ever produced. He highlighted the release of Nigeria’s updated Sustainable Development Goals tracking data, covering over 200 indicators, and urged stakeholders to fully implement the data roadmap, stressing that better data management can directly improve development outcomes and citizens’ welfare.

source: vanguard