Keynote Address by the Statistician General of the Federation and Chief Executive Officer, National Bureau of Statistics, at the Sensitisation Workshop for Stakeholders on the GDP and CPI Rebasing Exercise, held on the 23rd May 2024

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THE STATISTICIAN-GENERAL OF THE FEDERATION/CEO NATIONAL BUREAU OF STATISTICS DURING THE CPI/ GDP SENSITIZATION WORKSHOP

 Distinguished ladies and gentlemen, invited guests, members of the directorate, and staff of the National Bureau of Statistics, it is a pleasure to address you this afternoon at this brief yet, important sensitisation workshop on the rebasing of our Gross Domestic Product (GDP) and Consumer Prices Index (CPI) estimates.

 

Let me join the Director of Prices and Trade Statistics Department, to not just welcome and thank you for your presence here today, but more importantly, for the robust and interesting discussions we have had thus far during this event.

Just as other speakers from NBS have said, we put this workshop together to not only sensitise you as critical stakeholders in this process but to also solicit feedback, inputs, and support towards achieving an output that will satisfy the needs of all users and reflect a better picture and understanding of our economy.

 

PARTICIPANTS
PARTICIPANTS AT THE SENSITIZATION WORKSHOP FOR STAKEHOLDERS ON THE CPI AND GDP REBASING EXERCISE

 

In an ideal situation these exercises, which are routine statistical practices, need not attract much noise and ceremonies, but given the delays and irregularity in the conduct of some major statistical activities, this has become a significant part of our data production.

Furthermore, given the informal nature and structure of our economy, which creates an additional burden for data collection, these exercises have become much more pronounced in our statistical production.

It is for this reason therefore, that when the decision was made to embark on the rebasing exercise, we made it a cardinal objective to ensure inclusivity, collaboration, and partnership throughout the process of these rebasing exercises.

Our experience in recent times has shown that we have no other option than to continue to engage and foster partnerships with all constituents of the statistical system for better results.

As a matter of fact, we are expanding the system to accommodate more stakeholders (producers, suppliers, users) of data, to ensure that we harness all available avenues and opportunities to collect, process, and disseminate statistics to support policy decision-making and monitoring in Nigeria.

In an era of rapid change and global interconnectedness, the need for accurate and timely data has never been greater, and this is why we are engaging with stakeholders like you today, and we are committed to having more of these engagements with other relevant stakeholders.  

Following this very robust and engaging interaction that we had this afternoon; it is my hope and expectation that all present here will take the information about these two critical ongoing exercises and the impact that it is likely to have on your respective sectors and areas of work.

 

At the culmination of this process, critical stakeholders just like all present here today, will be invited once again to a validation session where the preliminary results will be deliberated before the final public dissemination. Just like many of you, we look forward to this time with excitement and great anticipation.

 

Let me round up by thanking everyone for your presence here today in joining us for this exercise and your very useful contributions. Your participation is a testament to your commitment to the progress and development of our national life, particularly those of you who have come in from outside Abuja, I thank you all most sincerely for your participation at this event.

STAKEHOLDERS
CROSS-SECTION OF PARTICIPANTS DURING THE SENSITIZATION WORKSHOP FOR STAKEHOLDERS ON THE CPI AND GDP REBASING EXERCISE

We look forward to a more fruitful and productive partnership and engagement even as we move along with both processes.

I thank you all for your kind attention.