As Nigeria marks its independence this October, it’s also an opportunity to reflect on the state of the economy. That was the focus on this episode of Everyday Money Matters, where host Ogechi sat with Tolulope Fasanya, Head of Research at Nairametrics, on the difference between what the numbers say and what people experience every day.
Fasanya begins by reminding us of what GDP growth measures are. She explained that GDP growth doesn’t show changes in inflation or the cost of living. Instead, it gives a big-picture view of how much the economy is producing in goods and services.
She noted that oil production went up from about 1.41 million barrels per day in the second quarter of 2024 to 1.68 million barrels per day in the same period of 2025, even though oil prices moved between $66 and $80. Moreover, she cautions that oil is subject to theft, vandalism, OPEC quotas, and external price shocks.
Tolulope further explained that industries such as real estate, trade, banking, and the creative sector have gained significant traction.
Watch the latest episode of Everyday Money Matters to know how GDP growth translates or fails to translate into everyday financial realities.
