The Statistician-General of the Federation and Chief Executive of the National Bureau of Statistics, Semiu Adeyemi, emphasized Nigeria’s commitment to producing reliable and accurate economic data.
He stated that the ongoing rebasing of the Gross Domestic Product and Consumer Price Index by the NBS is in line with the United Nations Fundamental Principles of Official Statistics.
Adeyemi made this disclosure during a sensitisation workshop organised by BudgiT for Civil Society Organisations in Abuja on Monday.
Speaking at the event, he stated that the rebasing exercises are essential to ensuring that Nigeria’s economic indicators properly reflect the country’s evolving realities.
He pointed out that the process captures emerging industries, shifts in consumption patterns, and other economic changes, which are vital for informed policymaking and governance.
“Rebasing our GDP and CPI allows us to align with these transformations, providing a more precise and relevant picture of Nigeria’s economic landscape.
“This process 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,” he said.
Adeyemi stated that the National Bureau of Statistics has been conducting the rebasing exercises according to global standards, particularly Principle 3 of the UN Fundamental Principles of Official Statistics, which emphasizes accountability and transparency.
“Our mindset in undertaking both critical assignments is in tandem with the United Nations’ fundamental principles of official statistics, particularly Principle 3 which deals with Accountability and Transparency.
“This approach essentially means that our processes are open, collaborative, and rigorous, making sure that, as much as possible, we leave no stone unturned in our bid to measure and report accurately, the size of the economy and the level of price changes,” he explained.
He assured stakeholders that the NBS is dedicated to a rigorous and collaborative approach to ensure the accuracy and reliability of its data.
He stressed that the rebasing exercise is aimed at reflecting Nigeria’s economic realities, not catering to the expectations of any specific group, and aligns with international standards.
The workshop brought together stakeholders from various sectors, including CSOs, academia, private sector operators, and government agencies.
Adeyemi emphasized that the rebasing exercise updates the consumption basket, includes emerging sectors, and refines data collection methods, ensuring that the indicators remain comprehensive and current.
