Nigeria vs SA in flawed GDP battle

Since 2012, the government of Nigeria has been working to revise the calculation of economic performance with a view to producing new measures for its gross domestic product (GDP). The central goal of this reform is to update the so-called base year, which is the benchmark for all calculations used in computing the GDP of a nation. Gross domestic product is a powerful political tool — but it hides more than it reveals. GDP revisions could see Nigeria overtake South Africa as Africa’s powerhouse.

Mail & Guardian Online