The World Bank has indicated that Nigeria needs an annual investment of between $10 million and $15 million in its statistical system to surpass the capabilities of South Africa, Brazil, Mexico, and Colombia.
The bank expressed concern that Nigeria’s statistical system currently lags behind that of South Africa and other comparable nations.
During a courtesy visit to the Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, World Bank spokesperson Mrs. Julie Osagie-Jacobs reported that Johan Mistiaen, the World Bank Practice Manager for West and Central Africa, made this announcement.
Accompanied by World Bank Country Director Ndiame Diop, Mistiaen presented his findings in a discussion titled “Next-Level Statistics to Support Nigeria’s Reform and Growth Agenda.”
The statement noted, “Mr. Johan Mistiaen previously pointed out that the country’s statistical performance lags behind that of its aspirational peers, including Mexico, Colombia, South Africa, and Brazil. He proposed that an annual investment of approximately $10-15 million in the country’s statistical system could elevate its performance to match that of these peers.”
In response, Bagudu affirmed the Nigerian government’s commitment to the independence of the National Bureau of Statistics (NBS), promising ongoing support for its role in producing socio-economic data.
According to DAILY POST, the National Bureau of Statistics reported that Nigeria’s inflation rate decreased to 23.18 percent in February 2025 following a rebase of the consumer price index.
