The World Bank said Nigeria needs between $10 and $15 million investment annually in its statistical system to outperform that of South Africa, Brazil, Mexico, and Colombia.
This comes as the bank lamented that Nigeria’s statistical system is below that of South Africa and other aspirational peers.
World Bank spokesperson, Mrs. Julie Osagie-Jacobs, in a statement, said the World Bank Practice Manager for West and Central Africa, Johan Mistiaen, disclosed this during a courtesy visit to the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, on Wednesday.
Mistiaen, who was accompanied by World Bank Country Director Ndiame Diop, said the suggestion during his presentation was titled “Next-Level Statistics to Support Nigeria’s Reform and Growth Agenda.”
The statement read, “Earlier, Mr. Johan Mistiaen observed that the country’s statistical performance was not at par with its aspirational peers, such as Mexico, Colombia, South Africa, and Brazil. He suggested that investing about $10-15 million annually into the country’s statistical system can raise performance to that of its aspirational peers.”
In his response, Bagudu assured that Nigerian government is committed to the independence of the National Bureau of Statistics (NBS), pledging continued support for its mandate of producing socio-economic data.
Another crucial data released by NBS is the country’s Gross Domestic Product report, which stood at 3.84 percent in the last quarter of 2024.
