Wednesday, October 9, 2019
Advertisement

Buhari: World Bank, IMF reeling out inaccurate statistics about Nigeria

Buhari: World Bank, IMF reeling out inaccurate statistics about Nigeria
October 09
21:44 2019
Advertisement

President Muhammadu Buhari says some of the statistics about Nigeria published by the World Bank, the International Monetary Fund (IMF) and other foreign bodies are not accurate. 

The president made this statement shortly after meeting with the presidential economic advisory council (EAC) on Wednesday.

Urging the council on the need to prioritise primary data, Buhari said statistics from the foreign bodies are not a representation of the facts on ground. 

“I am pleased to hear you mention the need for us to domesticate our policies to reflect our local realities. We are grateful for the cooperation we are getting from our friends abroad but we must move forward with homegrown solutions. This is the only way to ensure the suitability and sustainability of policies,” he said.

“Suitability is essential for effective implementation while Sustainability is critical as any decision made today will impact future generations.

“As you develop your baseline study, I would like you to focus on primary data collection. Today, most of the statistics quoted about Nigeria are developed abroad by the World Bank, IMF and other foreign bodies. Some of the statistics we get relating to Nigeria are wild estimates and bear little relation to the facts on the ground.

“This is disturbing as it implies, we are not fully aware of what is happening in our own country.

“We can only plan realistically when we have reliable data. As you are aware, as a government, we prioritised agriculture as a critical sector to create jobs and bring prosperity to our rural communities.”

The World Bank and other international agencies had continued to provide statistic about Nigeria.

In April, the World Bank said Nigeria’s economy has performed below par since 1995.

 

RECEIVE ALERTS FROM THECABLE

WHATSAPP 08113975334
TWITTER @thecableng
Copyright 2019 TheCable. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from TheCable.
Tags
Advertisement

Social Comments

0 Comments

No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Write a Comment

Your email address will not be published.
Required fields are marked *

*

Advertisement
Advertisement
Advertisement
 

Exchange Rates

October 07, 2019USDGBPEUR
INTERBANK306397354
LAGOS362475413
KANO361474413
PH361475412
ABUJA362476413
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement