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By recalculating the way it reports Gross Domestic Product (GDP)
using 2013 as base year, Nigeria found its economy had leaped by 89% to
$510 billion from the 1990 figures. The change, occasioned by a simple
mathematical/statistical calculation, is the good news.
In real terms, nothing may have changed for the “man in the
street” and the overall economy; but for the oil and gas sector, a lot has changed since the
country calculated its GDP 24 years ago...
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