Former Statistician-General urges FG to invest in data production

Prof. Vincent Akinyosoye, a former Statistician-General of the Federation, on Wednesday called on the Federal Government to invest in data production and dissemination to achieve sustainable economic development.

Akinyosoye told the News Agency of Nigeria in Abuja that government should take data production and dissemination seriously to achieve meaningful development.

He said that the government should also monitor investment in data production and dissemination.

Akinyosoye, a retired Professor at the University of Ibadan, said any government that planned with the use of statistics would likely succeed.

He, however, said that the Federal Government should be wise in formulating economic policies.

“It takes time to think through a problem and you will likely succeed with the plan you bring up.

“ So, let us not work on assumption that the thinking period is a waste.

“Things went bad in the past one year with the crash in oil price and other challenges in the country.”

Akinyosoye also advised the Federal Government to monitor the bail-out package approved to the states for payment of workers’ salaries.

It would be recalled that President Muhammadu Buhari on June 7 approved N804.7 billion to assist states that were unable to pay salaries to do so.

A total of N413.7 billion is to be shared in fresh allocations among the states and the Federal Government.

Also the Central Bank of Nigeria (CBN) is packaging a special intervention fund that will offer financing to the states ranging from N250 billion to N300 billion.

According to him, the Federal Government should put conditions on the funds for effective utilisation.

He said if there were no conditions attached, it would be difficult for the government to monitor usage by the states.

He advised the Federal Government not to sponsor pilgrimage, noting that such funds should be invested in developmental projects.