The Nigerian Meteorological Agency (NiMet) and the Central Bank of Nigeria (CBN) have signed a landmark Memorandum of Understanding (MoU) on data sharing aimed at improving economic research, policy formulation, and decision-making in Nigeria.
The agreement was signed at the CBN Headquarters in Abuja by the Director General and Chief Executive Officer of NiMet, Charles Anosike, and the Deputy Governor, Economic Policy Directorate, of the CBN, Muhammad Sani Abdullahi.
Speaking during the ceremony, Prof. Anosike emphasised the growing importance of integrating weather and climate information into economic planning, particularly in sectors such as agriculture, transportation, and energy.
He noted that extreme weather events continue to threaten agricultural productivity and food security, stressing that access to reliable meteorological data would support more informed economic projections and policy decisions.
According to him, the collaboration aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu, which prioritises food security through large-scale agricultural investments, including the cultivation of 10 million hectares of land and the distribution of mechanised farming equipment.
Prof. Anosike cited the 2026 World Bank report, which revealed that climate change-driven extreme weather conditions are worsening food insecurity globally, with over 87 million people affected in East and Southern Africa and 52 million in West and Central Africa.
He also referenced the 2026 Berkeley Earth Report, which projected that 2026 could become the fourth warmest year on record, a development expected to further influence agricultural output and energy market trends.
In his remarks, Dr Abdullahi described the MoU as a significant step in strengthening collaboration between two critical national institutions whose responsibilities intersect in data management, research, and policy support.
He stated that in an increasingly dynamic economic environment, timely and credible data remain essential for effective policymaking and economic planning.
Inflation monitoring
Dr Abdullahi explained that the Economic Policy Directorate of the CBN relies heavily on reliable statistical information from NiMet for inflation monitoring, agricultural assessments, and broader economic policy advisory functions.
He added that “the initiative was both timely and strategic, noting that stronger institutional partnerships are vital for enhancing evidence-based policymaking and improving the country’s national data systems”.
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