Abbas Pushes Statistics Reform To Support Nigeria’s $1tn Economy Goal

By Hannah Yemisi

At a public hearing on the Statistics Bill, 2025, held recently at the National Assembly Complex in Abuja, Speaker of the House of Representatives, Tajudeen Abbas, advocated a comprehensive overhaul of Nigeria’s statistical framework, arguing that the country’s ambition of becoming a $1 trillion economy cannot be achieved without a credible, technology-driven and globally trusted data system. Represented by Julius Ihonvbere, House Leader, Abbas backed legislation seeking to repeal the Statistics Act, 2007 and establish a modern framework for the National Bureau of Statistics. The proposed law aims to strengthen data governance, improve inter-agency coordination, institutionalise sustainable funding and align Nigeria’s statistical architecture with the digital economy.

“To plan without accurate data is to build a house on quicksand,” Abbas said. “For Nigeria to achieve its goal of becoming a $1 trillion economy, every policy decision, budget allocation, and infrastructural investment must be guided by data that is accurate, timely, and beyond reproach.”

DECISION HIGHLIGHT

The proposed Statistics Bill is designed to reposition official statistics from an administrative function to a strategic national asset.

Abbas described the legislation as a “complete structural overhaul” intended to modernise the National Statistical System, improve data quality assurance, eliminate duplication across government agencies and strengthen confidence in official statistics.

The reform seeks to create a legal foundation for high-frequency, technology-enabled and internationally credible data production.

DECISION MEMO

The significance of the bill lies in its recognition that data quality increasingly determines policy quality.

Economic planning, infrastructure investment, poverty reduction programmes, fiscal management and private-sector decision-making all depend on the reliability of official statistics. Weak data systems create inefficiencies that can distort resource allocation and undermine policy outcomes.

Abbas’ intervention suggests that Nigeria’s statistical architecture is now being viewed through the lens of economic competitiveness rather than administrative compliance.

“We need a system that inspires absolute trust, whether an investor looks at our numbers in Abuja, London or New York,” Abbas stated.

That observation is particularly important because investor confidence often depends on confidence in official economic data. Countries seeking larger investment inflows increasingly compete not only on market size and policy reforms but also on data credibility.

Supporting the reform, Adeyemi Adeniran, Statistician-General of the Federation and Chief Executive Officer of the National Bureau of Statistics (NBS), argued that technological change has rendered parts of the existing framework outdated.

“Significant changes in technology and data production now require a more robust legal framework,” Adeniran said.

According to him, the growing use of “digital technologies, administrative data systems, geospatial information, big data, machine learning, artificial intelligence and other emerging data sources requires a modern legal framework capable of supporting the evolving needs of the National Statistical System.”

Viewed strategically, the bill seeks to shift Nigeria from periodic statistical reporting towards an integrated data ecosystem capable of supporting real-time governance and evidence-based policymaking.

DATA BOX

• Proposed legislation: Statistics Bill, 2025
• Existing law targeted for repeal: Statistics Act, 2007
• National economic target: $1 trillion economy
• Structure of proposed legislation: Eight parts
• Total clauses: 42
• Core reform areas: Data governance, institutional coordination, funding, quality assurance, accountability and digital data systems
• Lead institution: National Bureau of Statistics
• Location: National Assembly Complex, Abuja

WHO WINS / WHO LOSES

Winners

• Policymakers requiring credible evidence for decision-making.
• Investors seeking reliable economic and demographic data.
• Researchers, academia and development institutions.
• Businesses dependent on forecasting and market intelligence.
• Citizens benefiting from more targeted policy interventions.

Losers

• Fragmented and duplicative data collection systems.
• Institutions operating outside harmonised statistical frameworks.
• Decision-making processes reliant on incomplete or outdated datasets.

POLICY SIGNALS

The bill signals a policy shift towards evidence-driven governance and digital public administration.

It also indicates growing recognition that statistical capacity is foundational to economic planning, public sector accountability and long-term development outcomes.

The reform aligns Nigeria with global trends favouring integrated, technology-enabled and continuously updated statistical systems.

INVESTOR SIGNAL

For investors, the legislation represents an attempt to improve the credibility, consistency and timeliness of official data.

Reliable statistics reduce information asymmetry, strengthen market transparency and improve investment decision-making.

If implemented effectively, the reform could enhance confidence in economic indicators used for investment appraisal, risk modelling and market analysis.

RISK RADAR

The principal risk remains implementation.

Legislative reform alone may not address longstanding challenges relating to institutional capacity, funding constraints and inter-agency coordination.

A second risk involves data governance complexity as emerging technologies, administrative databases and alternative data sources become increasingly integrated into official statistical production.

A third risk concerns public trust. The ultimate measure of success will be whether businesses, investors, development partners and citizens perceive official statistics as independent, transparent and credible.