By Hosea Parah, Abuja
The Statistician-General of the Federation underscored the vital importance of Nigeria’s ongoing rebasing of the Gross Domestic Product (GDP) and Consumer Price Index (CPI) during a sensitization workshop organized by BudgiT. The event, held at Wetland Hotel Wuye in Abuja, aimed to educate Civil Society Organizations (CSOs) about the necessity of updating these key economic indicators to align with the current realities of Nigeria’s economy.
In his address to a diverse audience that included government officials, media representatives, academic experts, and economists, the Statistician-General highlighted that these rebasing exercises are crucial for accurately reflecting Nigeria’s evolving economic landscape. He pointed out that as new industries emerge and consumption patterns shift, it becomes essential to revise the metrics used to assess national progress and development.
The Statistician-General noted that this initiative responds to the increasing demand for up-to-date, reliable statistics that inform policy creation and program implementation at all levels. He assured participants of the National Bureau of Statistics (NBS) commitment to maintaining transparency, accountability, and collaboration throughout the rebasing process.
“The rebasing is not merely about meeting expectations; it’s about ensuring that our economic indicators genuinely reflect the current economic climate,” he remarked. “This exercise is foundational for effective governance, strategic planning, and informed decision-making.”
He further acknowledged the vital role of CSOs in advocating for accurate data and transparency, encouraging their ongoing involvement and feedback during the rebasing efforts. The workshop provided a valuable platform for knowledge sharing and discussion regarding the potential implications of the rebasing on government policies, business operations, and the general public.
The event saw robust participation from various stakeholders, emphasizing the importance of collaborative efforts across sectors to shape policies based on accurate data. The Statistician-General expressed gratitude to BudgiT for their partnership and to all attendees for their dedication to enhancing Nigeria’s statistical systems.
This workshop represents a significant stride in the ongoing initiative to improve the quality and transparency of national statistics, which are essential for promoting sustainable economic growth and development in Nigeria.