NBS Engages Civil Society on GDP, CPI Rebasing

The National Bureau of Statistics (NBS) has engaged Civil Society Organisations (CSOs) on the significance of rebasing Nigeria’s Gross Domestic Product (GDP) and Consumer Price Index (CPI) ahead of the release of new reports.

Speaking at a Sensitisation Workshop organised by BudgiT in Abuja, the Statistician-General of the Federation, Prince Adeyemi Adeniran, reaffirmed the bureau’s commitment to transparency and inclusive dialogue on the exercise.

“We recognize that the credibility and usefulness of our statistics improve when diverse stakeholders actively participate. This includes private sector operators, academia, economic analysts, media, CSOs, and government bodies,” Adeniran stated.

He emphasized that engaging civil society is crucial to ensuring public awareness and understanding of economic data, which plays a key role in shaping policies and driving national development.

The rebasing of GDP and CPI is expected to provide a more accurate reflection of Nigeria’s economic structure and inflation trends, aiding better decision-making across sectors.

The NBS boss noted that the aim of the Bureau in undertaking both critical assignments was in line with the United Nations fundamental principles of official statistics, particularly Principle 3 which deals with Accountability and Transparency.

“This approach essentially means that our processes are open, collaborative, and rigorous, making sure that, as much as possible, we leave no stone unturned in our bid to measure and report accurately, the size of the economy and the level of price changes,” he said.

While affirming that the workshop was a platform for knowledge sharing, discussion, and collaboration, Adeniran assured the CSOs that their inputs and suggestions would be taken on board and incorporated where necessary.

The Bureau had disclosed that the rebased GDP and CPI would be launched by the end of this month, during which the full details of the reports would be made available to the public.