By Clem Khena-Ogbena
The Supervising Minister of National Planning Commission (NPC), Ambassador Bashir Yuguda has reiterated the importance of accurate and credible data in strategic development plans, in order to make better decisions for enhanced policy making.
In a statement issued yesterday by the Head of Information, NPC, Malam Salisu B. Haiba, the minister stated, “It is even more important for us at the National Planning Commission, especially given that we need accurate data to get our strategic development plans right and also to make better decision for enhanced policy making”
Yuguda was corroborating the position expressed by the coordinating Minister of the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, on the occasion of formal presentation of the results
of GDP Re-basing for Nigeria, Sunday, April 6th, 2014, in Abuja National Bureau of Statistics (NBS), in collaboration with the National Planning Commission, Ministry of Finance and the IMF office
Nigeria, vigorously carried out the GDP re basing exercise for Nigeria, the statement added, quoting the minister as saying, “We will equally need credible data to facilitate the monitoring and evaluation
of programmes and projects for enhanced implementation of the plan.
There is, therefore, a need to get our data right”
The minister gave the assurance that NPC would strongly support the National Bureau of Statistics (NBS) in its re-invigorating efforts at ensuring better and more up-to-date information and statistical coverage.
With the GDP re-basing, Yuguda said that Nigeria would now have a better understanding of the economy,that would inform a better and more realistic policy prescription to address the development
Yuguda, according to the statement, also described the re-basing process as adopted as very rigorous, highly consultative, participatory and inclusive, noting that surveys were conducted with inputs from various data producers, data suppliers and data users.
Yuguda commended the efforts of the development partners, including some renowned Economists, who were actively involved in the process of the GDP re-basing, expressing also his joy with the NBS, a Parastatal under the NPC, that led the process and made the results adopted, which is consistent with the international best practice.
Statistician General and Chief Executive of NBS, Mr Yemi Kale, described the Nigeria’s GDP rebasing as necessary to actually tell about the strength and weaknesses of a nation, pointing out that the
GDP rebasing is for necessary accuracy of the performance of the nation’s economy.