The World Bank has emphasized the need for increased investment to enhance the country’s data infrastructure and support national development even as it raised concerns about Nigeria’s lagging statistical performance compared to its aspirational peers, including Mexico, Colombia, South Africa and Brazil.
During a courtesy visit to the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, a delegation from the World Bank highlighted the importance of accurate and comprehensive statistics in driving economic reforms. The delegation was led by the Country Director, Ndiame Diop, alongside the Practice Manager for West and Central Africa, Johan Mistiaen.
In his presentation, Mistiaen observed that Nigeria’s statistical system was underperforming and recommended an annual investment of $10 million to $15 million to elevate its performance. He noted that such funding would strengthen data collection, analysis, and dissemination, bringing the system in line with global standards.
He stressed that reliable statistics play a critical role in shaping policies, attracting investments, and fostering economic growth. Without accurate data, decision-making becomes inefficient, hindering Nigeria’s ability to implement effective reforms and achieve sustainable development.
Responding to the concerns raised, Bagudu assured that the federal government remained committed to maintaining the independence of the National Bureau of Statistics, NBS, . He acknowledged the agency’s consistent efforts in providing credible and methodical data that international organizations rely on for economic assessments.
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The minister emphasized that there would be no government interference in the NBS’s operations, ensuring that statistical reports remain transparent and objective. He also expressed gratitude to the World Bank for its financial and technical support, describing it as essential to strengthening the agency’s institutional capacity.
The Statistician-General of the Federation and Chief Executive Officer of the NBS, Prince Adeyemi Adeniran, echoed the importance of increased investment in statistics. He stated that enhanced funding would improve data quality, which in turn supports national growth and development initiatives.
Adeniran acknowledged the federal government’s recent efforts to boost the NBS’s budgetary allocation, noting that it had reached its highest level in the past decade. However, he emphasized that sustained funding and stronger collaborations with development partners would enable the agency to deliver even greater results.
As Nigeria continues to pursue economic reforms, stakeholders agree that robust statistical infrastructure remains a key driver of progress. Strengthening data collection and analysis will not only enhance policy formulation but also position the country for long-term economic stability and growth.
Agency Report
