Nigeria overhauls statistical system for $1 trillion economy goal
Speaker Abbas Tajudeen says Nigeria's $1 trillion economy target remains difficult without accurate data, as National Assembly considers new Statistics Bill, 2025 to replace the outdated 2007 Act. The bill aims to strengthen NBS, improve data coordination, and institutionalize digital collection for better economic planning.
Current law enacted in 2007 is outdated for modern governance needs, as technologies like AI and digital platforms now play central roles in policymaking. The proposed reforms will eliminate duplicate surveys, reduce burden on citizens and businesses, and enhance trust in official figures for investors both locally and internationally.
If passed, this will be Nigeria's most extensive statistical reform since 2007, addressing funding limitations and inconsistencies in data management. The bill comes as global economies increasingly invest in digital statistical infrastructure for evidence-based policymaking.