Nigeria has changed the way it measures its gross domestic product (GDP) and has announced it is now Africas largest economy. It is the first time the continents most populous nation has claimed the top spot. Nigeria rebased its gross domestic product data to incorporate newer industries that were not accounted for under the old GDP measuring rules. The inclusion of sectors such as telecommunications, information technology, movie production and online commerce has pushed the country above the traditional economic powerhouse, South Africa. Nigerias statisticians say GDP for 2013 totalled $510 billion, considerably bigger than South Africas GDP of $370 billion. Rebasing of GDP is what most countries do every three years to account for the economic contributions of new and emerging industries. Nigeria hadnt rebased its economy in two decades. In this time, many new industries have blossomed. Nigerias chief statistician Dr Yemi Kale said the new figures do not mean Nigerians are suddenly richer. He explained: Its just about measuring better and more accurately. It does not mean that within 24 hours, something miraculous has happened. Nigerias Tribune newspaper wrote: Although pockets of vast wealth exist, most of Nigerias estimated 170 million people still live on $2 a day, while key services such as water and electricity provision are poor. 1. TRUE / FALSE:Read the headline. Guess if a-h below are true (T) or false (F). a. The World Bank changed the way Nigeria measures its GDP. T / F b. It is the first time Nigeria has been Africas biggest economy. T / F c. Movie production helped Nigeria become Africas biggest economy. T / F d. Nigerias GDP is just $100 million bigger than South Africas. T / F e. Most countries rebase their economies every three years or so. T / F f. The last time Nigeria rebased its economy was in 1964. T / F g. A statistician said a miracle had not taken place in the past 24 hours. T / F h. A newspaper said most Kenyans still live on a dollar a day. T / F 2. SYNONYM MATCH:Match the following synonyms from the article. 1. measures a. absorb 2 announced b. propelled 3. incorporate c. materialising 4. pushed d. extraordinary 5. considerably e. calculates 6. emerging f. huge 7. blossomed g. supply 8. miraculous h. developed 9. vast i. made public 10. provision j. significantly Nigeria has changed the way it measures its gross domestic product (GDP) and has announced it is now Africas largest economy. It is the first time the continents most populous nation has claimed the top spot. Nigeria rebased its gross domestic product data to incorporate newer industries that were not accounted for under the old GDP measuring rules. The inclusion of sectors such as telecommunications, information technology, movie production and online commerce has pushed the country above the traditional economic powerhouse, South Africa. Nigerias statisticians say GDP for 2013 totalled $510 billion, considerably bigger than South Africas GDP of $370 billion. Rebasing of GDP is what most countries do every three years to account for the economic contributions of new and emerging industries. Nigeria hadnt rebased its economy in two decades. In this time, many new industries have blossomed. Nigerias chief statistician Dr Yemi Kale said the new figures do not mean Nigerians are suddenly richer. He explained: Its just about measuring better and more accurately. It does not mean that within 24 hours, something miraculous has happened. Nigerias Tribune newspaper wrote: Although pockets of vast wealth exist, most of Nigerias estimated 170 million people still live on $2 a day, while key services such as water and electricity provision are poor. 1. TRUE / FALSE:Read the headline. Guess if a-h below are true (T) or false (F). a. The World Bank changed the way Nigeria measures its GDP. T / F b. It is the first time Nigeria has been Africas biggest economy. T / F c. Movie production helped Nigeria become Africas biggest economy. T / F d. Nigerias GDP is just $100 million bigger than South Africas. T / F e. Most countries rebase their economies every three years or so. T / F f. The last time Nigeria rebased its economy was in 1964. T / F g. A statistician said a miracle had not taken place in the past 24 hours. T / F h. A newspaper said most Kenyans still live on a dollar a day. T / F 2. SYNONYM MATCH:Match the following synonyms from the article. 1. measures a. absorb 2 announced b. propelled 3. incorporate c. materialising 4. pushed d. extraordinary 5. considerably e. calculates 6. emerging f. huge 7. blossomed g. supply 8. miraculous h. developed 9. vast i. made public 10. provision j. significantly
Posted on: Sat, 12 Apr 2014 14:14:26 +0000
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