Accurate statistics is essential for achieving Nigeria’s economic growth

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September 18, 2017 2:20 PM

She said that the committee would improve on the collection and management of government finance statistics across major ministries...

The Minister of Finance, Mrs Kemi Adeosun, on Monday said that accurate statistics was vital in the fight against corruption and achievement of the Federal Government’s economic recovery and growth plan.

Adeosun, represented by the Director, Home Finance, Federal Ministry of Finance, made the observation in Abuja at the inauguration of Finance Sectoral Consultative Committee on Statistics.

She said that the committee would improve on the collection and management of government finance statistics across major ministries, departments and agencies.

“This committee could not have come at a better time as it coincides with a period of increasing focus and demand for data and statistical information in Nigeria."

“There is undeniably an increasing recognition of the importance of statistics in governance such as accountability, fighting corruption and policy formulation for national development, especially to achieve the Economic Recovery and Growth Plan of government."

“It is very important to the extent that it will improve on the level of efficiency in statistical production. This is aimed at promoting the use of best practices and international standards in the production of statistics and management."

“Members of the newly inaugurated committee include DMO, FIRS, NEXIM, NDIC, CBN and AMCON,’’ she said.

Also speaking, the Statistician-General, National Bureau of Statistics, Dr Yemi Kale, urged the Federal Ministries, Department and Agencies (MDAs) to cooperate with the committee to ensure efficiency in data collection.

“These data will assist the government in economic analysis and planning. It will also assist the government in the economic restructuring of the nation,’’ he said.

Similarly, the Head of Economic Cooperation and Energy of the European Union, Mrs Nadia Cannata, pledged the union’s continued support to the committee’s work.

She said that the EU had provided 20 million naira to Nigeria to provide technical support and build the capacity of major stakeholders to ensure improvement of statistics collection.

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