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Nigeria Data Overhaul That Lifted GDP Backed by World Bank

The World Bank said it supports Nigeria’s overhaul of its gross domestic product data that catapulted the economy ahead of South Africa’s as the biggest on the continent.

The Washington-based lender, along with the International Monetary Fund and the African Development Bank, cooperated with Nigeria’s statistics agency in rebasing the GDP data, the World Bank said in an e-mailed response to questions yesterday. The accuracy of the data can be improved further, it said.