Nigeria delays Q2 GDP data by one week

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Entrepreneurship a solution for unemployment in Nigeria Nigeria will delay the release of second-quarter GDP data by a week. PHOTO: Getty Images

The announcement was made by the National Bureau of Statistics (NBS) said on Monday.

GDP data is scheduled for release 45 days after the end of each quarter, though the NBS does not always keep to a precise schedule with data releases.

(READ MORE: A closer look at Nigeria’s GDP rebasing)

NBS Chief Executive Yemi Kale told Reuters that “the rebasing in April … took us off our normal quarterly schedule” by creating a backlog of adjusting work.

(WATCH VIDEO: Impact of Nigeria rebase for S.Africa)

The rebasing almost doubled the size of its economy to 510 billion US dollars, making Nigeria Africa’s biggest economy, surpassing South Africa.