The National Bureau of Statistics (NBS) is set to launch its first price data collected through crowdsourcing, marking a significant milestone in its efforts to provide timely and accurate statistical information. The new initiative will provide daily price movement information for public consumption and reference, leveraging the power of crowdsourcing to compile data from a wide range of sources.
According to the Statistician-General of the Federation and CEO of NBS, Semiu Adeniran, “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 provides insights into prices of essential food items, offering a snapshot of daily food costs.
The NBS boss explained that the crowdsourcing initiative aims to modernise data collection, providing timely and accurate statistics. “The release of the crowd-sourced prices data is a significant achievement for us and demonstrates our commitment to innovation and collaboration,” he said.
Adeniran appealed to citizens to participate by submitting prices and feedback to build a robust statistical system for a rapidly changing economy. “By working together with citizens and leveraging technology, the NBS can provide more timely and accurate statistical information that will help to drive economic growth and development,” he added.
The NBS has implemented quality control measures, including data validation and verification processes, to ensure the accuracy and reliability of the data. 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.
“This allows for further transparency and accessibility,” Adeniran said, highlighting the agency’s commitment to innovation and collaboration. The initiative covers all 36 states and the Federal Capital Territory (FCT), providing a comprehensive picture of price movements in the economy
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