The Statistician-General of the Federation and Chief Executive Officer of the National Bureau of Statistics (NBS), Prince Adeyemi Adeniran, has appealed to stakeholders in the national statistical system to collaborate with the Bureau in its sustained drive to update Nigeria’s data for sustainable national development.
Adeniran, who gave the charge on Monday, in his keynote address at the ‘Sensitization Workshop on the Rebasing of Gross Domestic Product (GDP) and Consumer Prices Index (CPI)’ organised by BudgIT in Abuja, explained that rebasing would ensure that the two economic indicators (GDP and CPI) reflected Nigeria’s current and accurate economic realities.
According to him, as economies evolve, new industries emerge, and consumption patterns shift, it becomes imperative to update the Bureau’s statistical measures to capture these changes and that the rebasing is foundational to informed policymaking, strategic planning, and effective governance; hence, it is one exercise that the NBS is conducting with significant importance and professionalism.
The NBS Chief maintained that if Nigeria would make the desired progress and development, it had become imperative for the NBS, as the official producer of data, to adequately play its role in providing timely, accurate, and reliable statistics to inform all users of Nigeria’s statistical data.
Adeniran pointed out that this would also enable the policymakers to design, plan, and implement policies and programmess that will lead to the attainment of national objectives for the benefit of Nigerians.
He explained that in undertaking the GDP and CPI rebasing, the NBS management’s mind-set was in tandem with the United Nations fundamental principles of official statistics, particularly Principle 3, which deals with Accountability and Transparency.
The Statistician-General added that this approach essentially meant that the Bureau’s processes are open, collaborative, and rigorous, making sure that, as much as possible, it leaves no stone unturned in the bid to measure and report accurately, the size of the economy and the level of price changes.
Describing the workshop as exemplifying the statistics agency’s commitment to openness, collaboration, and stakeholder engagement, he maintained that the leadership of the NBS recognized that the credibility and utility of the agency’s statistics are enhanced through the active participation of diverse stakeholders, including private sector operators, academia, economic experts and analysts, media executives, civil society organizations, and government.
In his closing remarks, Adeniran stressed that the rebasing exercise was designed to ensure that the economic indicators accurately reflect the current structure of our economy, incorporating new and emerging sectors, updating our consumption baskets, and refining our data collection methods.
He clarified: “It is not to suit the expectations of anyone or entity, but simply to measure accurately in line with the global standards and practice. This is our responsibility as the official producer of data in Nigeria.
“Through this open process, we are further committing to maintaining an open dialogue with all stakeholders including CSOs. Your feedback and insights are invaluable to us, and we are dedicated to addressing any concerns you may have regarding this exercise or any other for that matter.
“This workshop is a platform for knowledge sharing, discussion, and collaboration. You can rest assured that your inputs and suggestions will be taken on board and incorporated where necessary.
“In conclusion, I would like to extend my heartfelt thanks to the BudgIT for their partnership in organizing this workshop, and to all of you for your presence and active participation. Together, we can ensure that our national statistics are not only robust and reliable but also reflective of the diverse and dynamic realities of Nigeria.
“Let us work collaboratively to enhance the credibility and usefulness of our data, thereby contributing to the sustainable development and prosperity of our nation”, the Statistician-General pleaded.