Valid statistics key to eradicating poverty in Nigeria -NBS

The National Bureau of Statistics (NBS) has said that valid statistics are critical in Nigeria’s quest to end poverty by the year 2030.

The Statistician General of the Federation,Dr Yemi Kale said this on Thursday, while delivering a keynote address at the 2017 African Statistics day celebration in Abuja.

The event tagged: “Better Lives with Better Economic Statistics,” focused on the critical role economic statistics plays in underpinning governance that leads to durable growth, linking economic growth with better lives and better economic status for all citizens of Africa.

Kale, who was represented by the Director, Fixed Service , Samanja Maudo, said that November 23 is observed annually to increase public awareness on the important role statistics play in all aspects of social and economic development of African countries.
He said that the date is also meant to promote active economic governance and welfare of nations.
“As a nation these economic statistics are so critical in not just assessing the macroeconomic performance of our economy, but also in unlocking those hidden opportunities within our economy that need to be fully exploited and harnessed, in order to transform the lives of our citizens.
Statistics on macroeconomic variables, such as Gross Domestic Product (GDP) growth rate, Savings, Investment, Interest rate, Inflation, Trade, Unemployment, Poverty, Exchange rate, Revenue, Money supply are needed to guide these decision-making processes,” the Statistician General added.

The Daily Times recalls that on Monday, the NBS published the 3rd quarter GDP report, which showed the economy has returned to a growth path, growing at 1.40 per cent in the third quarter, from the 0.72 per cent recorded in the second quarter of the year.
Kale, however, noted that, having come out of a very difficult recession, we now have another opportunity to apply the use of these kind of economic statistics being published to grow the economy.

He stated thatthe forum would provide some useful thoughts towards solving the various challenges in the Nigerian Statistical System and proffer solutions for better effective statistical delivery in the country.
He added that the forum would develop new lines of data that the nation can collect, produce and improve the methods of data production in the country.

In his remarks, the Director of Real Sector and Household Statistics Department, Dr Isiaka Olarewaju said for a meaningful development to be attained in an economy, reliable statistical information on key macroeconomic variables like the GDP, inflation rate, unemployment and interest rate must be taken into cognizance.

Olarewaju reiterated: “It is when we are able to collate, understand and interpret data correctly and develop the ability to identify key areas in the society that require changes that policy prescription and direction will respond to real needs of the Nigeria Society.”