The Nationwide Bureau of Statistics (NBS) has launched its first set of worth knowledge compiled by way of a crowd-sourcing initiative as a part of efforts to enhance the timeliness and accuracy of worth monitoring throughout Nigeria.
This was disclosed in a press assertion issued by the Head of Public Relations, Folorunso Alesanmi, on behalf of the Statistician-Common of the Federation.
The launch, which was introduced on Tuesday, marks what the Bureau described as a “main step ahead” in its technique to modernise knowledge assortment processes and strengthen real-time financial reporting.
“We’re thrilled to launch our first costs knowledge compiled by way of crowd-sourcing,” mentioned the Statistician-Common of the Federation, Prince Adeniran. “This initiative represents a significant step ahead in our efforts to harness the facility of know-how and innovation to enhance the standard and timeliness of our statistical knowledge.”
The crowdsourcing programme, which commenced a number of months in the past, compiles every day worth knowledge from a large community of sources, together with open markets, supermarkets, neighbourhood outlets, avenue shops, bulk shops, and huge shops. Knowledge assortment has been performed throughout all 36 states, the Federal Capital Territory (FCT), and all senatorial districts.
The Bureau defined that the newly launched knowledge provides every day insights into the costs of important meals gadgets comparable to native rice, white beans, white maize, garri, and yam — all staples closely consumed by Nigerian households.
How the brand new system differs from CPI worth knowledge
Not like the standard worth knowledge used for the Client Value Index (CPI), which is collected at particular, predetermined shops throughout the second and third weeks of every month, the NBS clarified that the brand new crowd-sourced knowledge is gathered randomly day by day.
“This isn’t the identical with those compiled for Client Value Index; worth knowledge for CPI computation are collected on particular or predetermined shops each second and third week of the month. However worth knowledge collected by way of crowd-sourcing is collected randomly from totally different respondents day by day,” the Bureau mentioned.
The NBS said that the crowd-sourced worth knowledge is up to date every day and made accessible to the general public by way of a devoted dashboard. Customers can view, analyse, and obtain knowledge in real-time, offering a clear and dynamic view of worth modifications throughout the nation.
To ensure knowledge reliability, the Bureau defined that it had carried out numerous high quality management measures, together with validation and verification processes, to make sure the accuracy and integrity of the data.
“The Nationwide Bureau of Statistics’ crowd-sourcing initiative goals to modernise knowledge assortment, offering well timed and correct statistics,” it said.
The NBS additionally inspired residents to take part actively within the crowd-sourcing programme by submitting worth knowledge and suggestions to assist construct a extra sturdy and inclusive statistical system.
Based on the Bureau, the launch of the crowd-sourced worth knowledge platform reinforces its broader dedication to innovation, collaboration, and delivering well timed, accessible info for policymakers, entrepreneurs, researchers, and most of the people.
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