The Nigerian government plans to adjust its GDP calculations to reflect informal and illegal economic activities, aiming for a more comprehensive economic assessment.

Baba Madu, head of the National Bureau of Statistics’ national accounts division, emphasized that sectors like street vending, smuggling, and unregistered labor, though outside formal structures, significantly contribute to the economy.

Experts have expressed mixed reactions, with some lauding the move for improving economic transparency, while others caution against its potential normalization of illicit activities.

Stay tuned as WADR’s Usman Umar in Abuja gathers more expert insights on this development.