The World Bank has raised serious concerns about the quality of Nigeria’s data and statistics, revealing that the country lags behind other emerging economies like Mexico, Colombia, South Africa, and Brazil.
This warning came during a courtesy visit by a World Bank delegation to Nigeria’s Minister of Budget and Economic Planning, Senator Abubakar Bagudu, on Wednesday. The team was led by Country Director Ndiame Diop and Practice Manager for West and Central Africa, Mr. Johan Mistiaen.
In his presentation, titled “Next Level Statistics to Support Nigeria’s Reform and Growth Agenda,” Mistiaen highlighted that Nigeria’s statistical system was not on par with its developmental peers. He recommended an annual investment of between $10 million and $15 million in the country’s statistical infrastructure to elevate performance and align it with global standards.
Mistiaen’s comments underscored the need for Nigeria to significantly improve its statistical capabilities to better support economic reforms and growth. He suggested that the country’s performance could be greatly enhanced with the right investments in this sector.
In response, Minister Bagudu assured the World Bank that the Nigerian government would continue to safeguard the independence of the National Bureau of Statistics (NBS). He commended the NBS for its consistent release of reliable data, which has been used by reputable international organizations.
Bagudu emphasized that there would be no government interference in the NBS’s operations, stressing the importance of the Bureau’s autonomy in ensuring data credibility. He also expressed gratitude for the World Bank’s continued support in strengthening the agency.
Prince Adeyemi Adeniran, Statistician-General of the Federation and CEO of NBS, welcomed the call for increased investment in statistics, noting that it would play a vital role in Nigeria’s national growth and development. He also praised the government for boosting the agency’s budget allocation, which had reached its highest level in a decade. However, Adeniran stressed that sustained funding and further partnerships with development agencies would help the NBS achieve even greater results.
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