The Supervising Minister of National Planning, Amb. Bashir Yuguda, has reiterated the importance of accurate and credible data in strategic development plans for better decision to enhance policy making.
Amb Yuguda made this position known at the presentation of GDP rebasing exercise in Abuja.
He said it was important to the National Planning Commission (NPC), given that it needed accurate data to get its strategic development plans right and also to make better decision for enhanced policy making.
National Bureau of Statistics (NBS), in collaboration with the Commission, Ministry of Finance and the IMF office Nigeria, had carried out the GDP rebasing exercise for Nigeria.
“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,” he said.
To this end, he assured that the Commission would support the NBS in its re invigorating effort at ensuring better and more up to date information and statistical coverage.
With the GDP rebasing, Yuguda said Nigeria would now have a better understanding of the economy which would inform a better and more realistic policy prescription to address the development challenges.
Also speaking, Statistician-General and Chief Executive of NBS, Yemi Kale, described the Nigeria’s GDP rebasing as necessary to tell about the strength and weaknesses of a nation.
He pointed out that the GDP rebasing was for necessary accuracy of the performance of the nation’s economy.