As Nigeria aims for a monumental $1 trillion economy, the urgent need for reliable and modern data has never been clearer. House Speaker Tajudeen Abbas emphasized this necessity while advocating for the passage of the Statistics Bill, 2025. Current data gaps hinder effective policy-making and economic planning, making it imperative for Nigeria to invest in statistical infrastructure.
Abbas stated, “We cannot build a robust economy on outdated data. Our strategies must be based on accurate information to guide investment and development.” With Nigeria's population growth and evolving economic landscape, outdated statistics could lead to misinformed decisions that adversely affect growth prospects. The Statistics Bill seeks to modernize data collection and dissemination, ensuring that policymakers have access to credible information.
Looking ahead, the passage of this bill could serve as a pivotal step toward achieving economic resilience and growth. By harnessing quality data, Nigeria can make informed decisions that drive sustainable development and attract foreign investment, ultimately positioning itself as a competitive player in the global economy.