The National Bureau of Statistics (NBS) has made a groundbreaking announcement that is sparking heated debates nationwide. According to a post on Nigerian Stories’ official X handle, the NBS revealed its decision to incorporate illegal and hidden economic activities such as prostitution and drug trafficking into the computation of Nigeria’s Gross Domestic Product (GDP).
This controversial move aligns with international best practices, as several countries have already begun including shadow economy activities to present a more comprehensive picture of their economic output. However, the decision raises questions about the ethical and societal implications of formally acknowledging these illicit industries as contributors to the nation’s economic framework.
Globally, shadow economies account for a significant share of economic activities that go unrecorded in official statistics. By including such activities, the NBS aims to provide a more accurate representation of the size and scope of Nigeria’s economy. This approach is not entirely new, as developed nations like Italy and the Netherlands have also adopted similar measures to comply with international standards set by the United Nations and the International Monetary Fund (IMF).
The inclusion of these activities, the NBS argues, will offer a clearer picture of the economy’s structure, facilitate better policymaking, and improve the country’s standing in global economic rankings.
Despite the economic rationale behind the decision, it has been met with a mix of skepticism and outrage from Nigerians. Many citizens and social commentators have taken to social media to express their concerns, questioning whether this move normalizes or even inadvertently legitimizes illegal activities. Others have argued that focusing on these shadow economies may divert attention from addressing the root causes of such activities, including unemployment, poverty, and lack of proper law enforcement.
Religious and moral leaders have also voiced strong objections, warning that this development could send the wrong message about societal values and priorities. “What kind of legacy are we leaving for our youth if we recognize crime as part of our economy?” one prominent cleric lamented.
While the decision may seem unconventional, it underscores the complexities of modern economic reporting and the challenges of capturing the full spectrum of economic activity in a rapidly evolving society like Nigeria’s. By including the shadow economy, the NBS seeks to align Nigeria’s GDP reporting with global standards, offering a more transparent and inclusive economic narrative.
As this policy unfolds, the question remains: will it serve as a tool for better economic planning, or will it spark unintended consequences that could reshape the nation’s social and moral fabric?
For now, the NBS stands firm, emphasizing that this bold step is necessary for achieving a complete and accurate representation of the Nigerian economy. Time will tell how this controversial move will impact the nation’s economic and social landscape.
PIONEER NEWS 