The National Bureau of Statistics (NBS) has unveiled its first-ever market prices data gathered through a crowdsourcing initiative.
The initiative is designed to modernize Nigeria’s statistical infrastructure and enhance data-driven decision-making across both government and the private sector.
In a statement issued on Tuesday in Abuja, by Folorunso Alesanmi the Head of Public Relations, explained that the crowdsourcing initiative aims to collect daily price data from a broad range of sources.
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These include open markets, supermarkets, neighborhood shops, bulk and discount outlets, street vendors, and large retail stores.
According to the statement, Data collection was done in all the 36 states, FCT and in all the Senatorial districts.By leveraging the power of crowd-sourcing, the Bureau has been able to collect a vast amount of data that will help to provide a more accurate picture of price movements in the economy.
“We are thrilled to release our first prices data compiled through crowd-sourcing,” said Prince Adeniran, Statistician-General of the Federation.
“This initiative represents a major step forward in our efforts to harness the power of technology and innovation to improve the quality and timeliness of our statistical data.
“The data released today provides insights into prices of essential food items such as Rice (Local), Beans (White), Maize (White), Garri, Yam, etc commonly consumed by Nigerians, offering a snapshot of daily food costs.
The NBS plans to update this data on a daily basis, equipping entrepreneurs, policymakers and researchers with a valuable tool for tracking price movements and informing decision-making.
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The crowd-sourced data is accessible to the public through a dedicated public dashboard, where users can view, analyze, and download the data in real-time, further enhancing transparency and accessibility.
The NBS urged citizens to participate by submitting price data and feedback to build a robust statistical system for a rapidly changing economy.
