Activation of the Basic Registry and Information System (BRISIN) in the Federal Capital Territory (FCT) could earn Nigeria intervention funds worth $600 million and create over 10 million jobs.

The Head of BRISIN, Dr Anthony Uwa, disclosed this at a press conference in Abuja on Friday.

BRISIN, an integrated data and information infrastructure, is a system for the daily collection, storage, and distribution of data and information to support the management of the country’s economy. It was approved in 2007 during the administration of former President Olusegun Obasanjo.

Also, Goodluck Jonathan’s administration inaugurated a technical committee, while in 2018, the Muhammadu Buhari administration approved the implementation of the project, starting with a pilot scheme in the Federal Capital Territory.

Uwa stated that the delay by the Federal Ministry of Budget and Economic Planning is frustrating the implementation of BRISIN, a project that could boost economic development.

He highlighted potential benefits of the project for the economy to include job creation, improved access to credit, increased economic activity, and enhanced national development, among others, emphasising that its implementation would have far-reaching positive impacts on the economy.

He said it will also lead to improved security of the country and social security systems, aid economic planning and development, investments and technological growth, revenue generation and economic monitoring, social welfare services and programme, even and rural developments, massive employment and others.

According to the team lead, BRISIN would establish the foundation for sustainable economic growth across all the strata of governance in Nigeria, stressing that intervention funds were expected from Italy.

Uwa said that if fully implemented since 2018, it would have led to improved governance, checks and balances. economic and fiscal monitoring and control, reduction in criminality, reduction in corruption, sustainable development, among others.

The project, he stressed, has a coordinating agency, (National Planning Commission), currently under the Ministry of Budget and Economic Planning.

Also speaking, the Director of Solution Providers (Dermo Impex), Lorenzo Santangelo, highlighted the importance of BRISIN in facilitating economic growth and development.

Santangelo noted that the lack of a functional basic registry system like BRISIN is a major obstacle to international credibility, Nigeria’s economic progress, stressing that its implementation would enhance transparency, accountability, and access to credit for businesses.

He, therefore, urged the Nigerian government to expedite action on its implementation to unlock its potential benefits, including various funding and investment opportunities.