The World Bank has called for a yearly investment of between $10 and $15 million in the National Bureau of Statistics (NBS) to enable it to compete with its peers.
The World Bank Practice Manager for West and Central Africa, Johan Mistiaen, said this call on Wednesday in Abuja during a courtesy visit to the Minister of Budget and Economic Planning, Abubakar Bagudu.
Mistiaen observed that the country’s statistical performance was not at par with its aspirational peers such as Mexico, Columbia, South Africa and Brazil.
In his presentation on the statistics needed to support Nigeria’s reform and growth agenda, he suggested that investing $10 to $15 million yearly in the country’s statistics office could raise its performance to that of its aspirational peers.
Bagudu, while acknowledging the support of the World Bank for the NBS, assured that the agency would remain independent, promising that the government would continue to support it in exercising its functions.
Bagudu commended the NBS for providing credible statistical data that have been utilised by international and reputable organisations over the years, saying it is known to release timely and methodical data without interference from government.
The Minister expressed gratitude to the World Bank for the financial and technical support for the bureau in its efforts to strengthen its operations. The Statistician-General of the Federation and CEO of the NBS, Adeyemi Adeniran, noted that investments in statistics would bring about more growth and development.
He appreciated the Federal Government for improved funding of the agency and agreed that with more budget and engagement with development partners, NBS could do better.
