Buhari faults data by IMF, World Bank on Nigeria, says some are inaccurate

Buhari faults data by IMF, World Bank on Nigeria, says some are inaccurate

- President Muhammadu Buhari has faulted some of the statistics released by international organisations like World Bank and International Monetary Fund

- The president also added that for the country to move forward, homegrown solutions would have to be provided

- Buhari stressed the need for accurate data as policy making depends on it, adding that his administration is working on accurate data collection

President Muhammadu Buhari on Wednesday, October 9, said Nigerians should be very careful about the different statistics from international organisations like the World Bank and the International Monetary Fund.

According to the president, most of the statistics quoted about Nigeria by the World Bank, IMF and other foreign bodies are wild estimates that bear little relation to the facts on the ground.

The president also spoke about the importance of accurate data on policy making when interacting with the Presidential Economic Advisory Council.

Buhari said the realistic planning is only possible when there is dependable data to work with, adding that his administration is seriously working on improving on quality data gathering.

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He added that “homegrown solutions” are key to making the country move forward in all areas that need development.

Meanwhile, Legit.ng earlier reported that out of 190 countries, the World Bank listed Nigeria as one of the top 20 countries that improved and carried out reforms in the ease of doing business. The apex bank disclosed this in a report released on Friday, September 27.

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Recall also that Buhari earler said that it would be having a meeting with the council on Wednesday, October 9, within the State House, Abuja.

It should be noted that the EAC was constituted to advise the president on economic policy matters. They are also to advise the president on fiscal analysis, economic growth; and a range of internal & global economic.

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Source: Legit

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