ACCESS to and analysis of data of Nigeria’s socioeconomic performance over the years is essential in formulation of policies that can drive the growth and development of the country.
At a time when when the economy is changing and with a new government, there is the need for data that scores performance of democracy from 1999 till date to aid its policy planning processes.
To this end, Dr Afolabi Olowookere, the Managing Director/Chief Economist of the Analysts Data Services and Resources (ADSR), has recently launched a socio-econonic data book titled ‘Nigeria in Figures’, a databook that provides evidence-based inputs into the discussions and target-setting for political office holders, advisers, policymakers, electorate, observers, researchers and businesses.
Speaking at the launch, Oloowokere stressed the need for policymakers to be equipped with the necessary data and information for socioeconomic performance in the current democratic dispensation, while noting that the data book, a compilations of socio-economic data from 1999, specifically showed the country’s relative performance against selected comparator countries providing detailed sources and description of relevant data.
“This book presents in a comprehensive manner data at national, regional and state levels and describes the development, challenges and policies of different sectors.
“More often than not, Nigerians complain about the unavailability of data but we have lots of data in different sources such as libraries, bookshelves of many professors among other places,” said Olowookere.
He said he had put together all the data from different places, across different sectors in a single and simple source called Nigeria in Figures (A socioeconomic data book) even though his goal was to have the largest database in Africa.
“The data was collated across different key sectors of the economy and has compared the data from 1999 till date to provide background information aimed at driving socioeconomic growth and development.
“Alongside the data presentation, economic policies, trends, and development across different sectors of the economy are collated into a single source for easy access to provide insights for policymakers,” he said.
Professor Bright Eregha, while reviewing the book stated that the country was replete with a lot of administrative data but was yet to develop a dashboard to keep a track of its developmental projects which have in turn rendered policies ineffective.
He observed that Nigeria currently has a big funding squeeze and without having sufficient data to track the level of progress, this adds to debt burden, hence the reason for having challenges with external financing.
Speaking during the ADSR’s Nigeria Economic Roundtable for Executive (NERFE) with the theme, ‘Nigeria’s socio-economic performance since 1999: Lessons for New Policymakers, Mrs Toyin Sanni, Group Chief Executive Officer (CEO), the Emerging Africa Group, stated that access to such data would help align policies and initiatives that would aid private sector development, while noting that the private sector, though very dynamic and entrepreneurial, has been crippled by unfavourable policies and environment, which does not give room for planning.
Dr Suleyman Ndanusa, CEO, Global Mandate Consulting, said the data book was a massive and excellent undertaking by the author who has succeeded in creating a data encyclopedia on Nigeria.
He observed that the government, beyond policymaking, needs to fulfil socioeconomic promises to build the trust of the citizens, while saying that the top priority area for the new government is good governance and discipline to perform its social contract.
“People are not willing to trust government, and when citizens lack trust, they are less likely to comply with laws and regulations.
“The challenges a country would face when they are building trust include people saying things that foster disunity along religious and tribal sentiments causing insecurity.
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