Nigeria is undergoing significant economic reforms, known as economic rebasement, as it enters 2025 with notable inflation changes and improved financial metrics. The rebased economy showcases growth in various sectors, encouraging businesses to realign strategies, focusing on data analytics, localized products, and digital innovation to unlock new consumer opportunities and drive economic resilience.
As Nigeria enters 2025 with inflation hitting a record high of 33.80% in 2024, the country is navigating through critical economic reforms, identified as economic rebasement. The National Bureau of Statistics (NBS) updated the Consumer Price Index (CPI) in February 2025, noting a notably lower inflation rate of 24.48% year-on-year for January 2025, down from 34.80% in December 2024, indicating the effectiveness of recent reforms such as subsidy removal and currency devaluation.
In conclusion, Nigeria’s economic rebase presents a more accurate representation of the country’s economy, fostering new opportunities for businesses and consumers alike. The evolving financial landscape emphasizes the importance of data-driven insights, strategic expansion into high-growth sectors, localized product offerings, and digital transformation. As businesses adapt to these changes, they will not only enhance competitiveness but also contribute to the nation’s overall economic resilience and growth trajectory in 2025 and beyond.
Original Source: nairametrics.com
