Treating Data As National Asset

Every five years, the world marks World Statistics Day, a reminder that data is not just numbers, but the heartbeat of development. This year’s theme, “Connecting the World with Data We Can Trust,” resonates deeply for Nigeria, where unreliable, outdated, or politicised statistics continue to cloud policymaking and weaken public trust. In an economy facing inflation, unemployment, and volatile growth, our ability to collect, analySe, and act on accurate data could well determine whether we move from potential to prosperity.
For too long, Nigeria’s economy has run on assumptions rather than evidence. Policymakers have often relied on projections, not real-time insights. When GDP rebasing in 2014 suddenly elevated Nigeria to Africa’s largest economy, it exposed a truth long ignored: that without credible statistics, even progress can be hidden in plain sight. A decade later, Nigeria still struggles with basic statistical gaps, from the true number of unemployed youths to the actual volume of food produced, or even the extent of informal sector activity that fuels daily survival for millions.
At the heart of this problem lies chronic underinvestment in data systems. The National Bureau of Statistics (NBS) remains one of the most respected public institutions in the country, but informed opinions suggest that it operates with limited resources, outdated survey tools, and inconsistent collaboration with states and local governments. Reliable statistics cannot thrive in silos. Nigeria’s ministries, departments, and agencies (MDAs) must learn to share data in a harmonised national platform, rather than hoard information for bureaucratic leverage or political optics.
The consequences of poor data are far-reaching. Without accurate population figures, the government cannot plan effectively for education, health, or infrastructure. Without timely agricultural data, Nigeria’s food security strategies remain reactive instead of preventive. And without credible employment and income statistics, economic reforms risk missing their targets, deepening inequality instead of closing gaps. In essence, when data fails, governance falters, and citizens bear the cost.
Yet, there is a glimmer of progress. The NBS’s partnership with the World Bank and the Bill & Melinda Gates Foundation has improved survey frequency and expanded coverage in recent years. Digital data collection, remote sensing for agriculture, and open-data initiatives are beginning to reshape how we see our economy. But these efforts must move from donor-driven projects to national priorities anchored in law and budget. A National Data Policy should mandate that every major government programme, from social investment to infrastructure, include a statistical component for monitoring and evaluation.
More importantly, Nigeria must confront its culture of data distrust. Statistics should not be tools for propaganda or political defense; they should be instruments for accountability. When unemployment numbers are revised, or poverty figures adjusted, transparency about methodology should accompany them. Citizens deserve to know not just what the numbers are, but how they are made.
If Nigeria is serious about economic transformation, it must treat statistics the way it treats oil, as a strategic national resource. Data, after all, is the new crude. It powers decisions, fuels innovation, and guides investment. Without it, our economic engine runs in the dark.
As we mark World Statistics Day, Nigeria stands at a crossroads: we can continue to drift in data darkness, or we can light the way with numbers that tell the truth. The choice and the cost are ours.