We can be skeptical, but we should not let cynicism debase the recent re-basing of our GDP.
Fact is fact - GDP is measured in LOCAL CURRENCY - and it is now stated as N80.3 trillion for 2013 with a 2010 base year instead of N42.4 trillion for the same year at 1990 base - but whether that is $510 billion (the oft-quoted new GDP, based on $1 = N157.5), or $486.7 billion ($1 = N165) or $472.4 billion ($1 = N170), it shows only three things:
1. new types of goods and services have been added since 1990 (the previous base year); some or all of the retained goods and services have INCREASED quantities of them produced AND/OR are sold at higher prices; why is this so difficult to believe that all of that will amount to a HIGHER GDP?
2. if the re-based GDP is accepted, we have JUMPED over South Africa (at 370.3 billion) to be the largest economy in Africa BASED ON GDP alone - and no other index for now;
