Abuja: The National Bureau of Statistics (NBS) has reaffirmed its commitment to collaborating with stakeholders to ensure the production of accurate and reliable data. The Statistician-General of the Federation, Adeyemi Adeniran, made this statement during a Sensitisation Workshop on the rebasing of Gross Domestic Product (GDP) and Consumer Price Index (CPI) for Civil Society Organisations in Abuja on Monday.
According to News Agency of Nigeria, Adeniran noted that the workshop, organised by BudgiT, underscores the bureau’s dedication to transparency, collaboration, and stakeholder engagement. He stated that it aligned with the United Nations’ Fundamental Principles of Official Statistics, particularly Principle 3, which emphasises accountability and transparency. Adeniran highlighted the bureau’s processes designed to be open, collaborative, and rigorous, ensuring accurate measurement and reporting of the economy’s size and price changes.
Adeniran explained that the rebasing exercise is essential for ensuring that the GDP and CPI reflect current economic realities. As economies evolve with new industries and shifting consumption patterns, it is vital to update Nigeria’s statistical measures to capture these changes accurately. The rebasing of GDP and CPI ensures economic indicators accurately reflect the economy’s structure by incorporating emerging sectors, updating consumption baskets, and refining data collection methods. This process is conducted in line with global standards, solely to provide accurate measurements.
He also emphasised the importance of the exercise for informed policymaking, strategic planning, and effective governance, noting the professionalism of the NBS in conducting the process. Speaking at the workshop, Gabriel Okeowo, Country Director for BudgiT, stressed the need for the rebasing exercise to reflect public policy changes and significant sectoral shifts over the past decade. Nigerians expect the rebasing to demonstrate significant changes in sectors over the last five to ten years.
Okeowo urged the NBS to prioritise effective communication of the rebasing results, recommending an increased communication budget to reach critical segments of society, including the media, to explain the process, insights, and policy implications. He highlighted the opportunity to strengthen trust in the institution, emphasizing the need for the NBS to communicate implications and deductions from the data to public policymakers to avoid reckless policy decisions.
Okeowo further emphasised the need for the NBS to remain independent and free from political interference, urging the bureau to always present the truth, regardless of its political or social implications.