The Central Bank of Nigeria is introducing digital data collection across the 36 states, the Federal Capital Territory and 774 Local Government Areas to improve the accuracy and timeliness of public finance information.
The initiative, being driven by the bank’s Statistics Department, seeks to replace the largely manual Sub-National Fiscal Survey reporting system with a digital platform that will enable more frequent, accurate and reliable data submissions.
Speaking at a stakeholder engagement on the survey in Abeokuta, Ogun State, the Director of the CBN Statistics Department, Dr Usman Moses Okpanachi, said the initiative would strengthen the connection between fiscal transactions recorded by Ministries, Departments and Agencies and local governments and evidence-based policymaking.
Okpanachi said reliable fiscal data were crucial for evaluating government revenue, spending patterns, financing needs and fiscal pressures.
He added that the information would help policymakers assess public-sector activities and their effects on aggregate demand, liquidity, borrowing conditions and inflation.
He said the existing survey, conducted twice a year and largely dependent on manual reporting, had encountered challenges with submission timelines, logistics, data validation and processing.
According to him, the digital platform is expected to tackle these challenges through standardised data entry, streamlined submissions, improved validation processes and traceable corrections. It will also facilitate a shift to more frequent quarterly reporting.
He said the existing survey, conducted twice a year and largely dependent on manual reporting, faced challenges with submission timelines, logistics, data validation and processing.
The digital platform is expected to address these shortcomings through standardised data entry, improved validation, simplified submissions and traceable corrections. It will also facilitate the transition to quarterly reporting, allowing for more frequent fiscal data collection.
The CBN director emphasised that technology would complement, rather than replace, proper record-keeping, reconciliation and professional judgement.
He urged state and local government authorities to submit their data promptly, validate and reconcile their records, and appoint designated officers to ensure continuity in the reporting process.
Okpanachi said the programme’s effectiveness would be measured by improvements in the completeness and consistency of data submissions, turnaround time and validation processes. He also assured stakeholders of continued technical and operational support from the CBN’s branches and Statistics Department.
The nationwide engagement commenced on October 26, 2026, and is expected to cover the remaining states by December 4, while sessions for the Federal Capital Territory are scheduled for December 9 and 10.
The practical sessions are aimed at equipping state and local government fiscal officers with the skills to use the digital questionnaire, meet data validation requirements and handle submission and correction procedures.
As of November 6, 2026, the exercise had reached 16 states and their respective local governments. The CBN said the programme had received strong support from state authorities, with attendance reaching 100 per cent in almost all the states visited.
Following the training, participating officers are expected to transfer the knowledge gained to colleagues within their respective institutions and commence submitting fiscal reports through the digital platform.
The Statistics Department will subsequently compile the implementation outcomes into a national report.
The digitalisation initiative is part of the CBN’s broader data architecture and transformation agenda. It is expected to provide more reliable information to support planning, budgeting and policy evaluation at the state and local government levels.
The programme will also improve the quality of data available to policymakers in making monetary, financial and fiscal policy decisions.
