NBS Launches Daily Food Price Update For Nigerians, Shares Reasons And Benefits
- Nigerians can now get real-time daily updates of essential food items like rice, beans, yams, and others
- The National Bureau of Statistics (NBS) has added to its portfolio a daily price update presented in a dashboard
- The Statistician General of the Federation has listed the food items to be covered in this daily update
Legit.ng journalist Ruth Okwumbu-Imafidon has over a decade of experience in business reporting across digital and mainstream media.
The National Bureau of Statistics (NBS) has launched a daily food price update, to keep Nigerians on track wit the price changes across food items.
This is expanding the bureaus’s responsibility of data collection, and the NBS has said it aims to provide timely and accurate statistical information on food prices to researchers and policy makers.
According to the official statistics body of Nigeria, the data will be collected by crowdsourcing from neighbourhood shops, open markets, supermarkets, large shops and others.
Source: Twitter
The tweet announcing it read;
“🚀🚀🚀🚀 WE ARE LIVE!!! Introducing the Nigeria Food Price Tracking Dashboard (Pilot)
The Nigeria Food Price Tracking Project, led by the National Bureau of Statistics (NBS), uses crowdsourcing and AI to monitor food prices in real-time.
This pilot dashboard lets you check prices for 10 key food items across Nigeria — helping us generate more timely, accurate data to support decisions on food security and observe price movement.”
The data will be accessible to the public and will cover all 36 states of Nigeria, providing daily price movements for reference.
The new approach to data collection, the NBS said, marks a significant milestone in its efforts to provide timely and accurate statistical information to policymakers, researchers and the public.
The crowdsourcing initiative is meant to compile price data daily from a wide range of sources, including open markets, supermarkets, neighbourhood shops, bulk and discount stores, street outlets, and large shops.
Daily food price update is different from CPI
The NBS clarified that the new initiative is different from the Monthly Consumer Price Index (CPI) report released by the agency.
The crowdsourcing method used will provide a more robust, comprehensive, and accurate price outlook across the country, NBS has assured.
The NBS, however, explained that the plan is different from its monthly consumer price index (CPI). The data collection, it said, has commenced and covers all 36 states and the Federal Capital Territory (FCT)
NBS explains daily food price update
Speaking about the latest initiative, CEO of NBS Prince Adeyemi Adeniran said it would improve the timeliness of NBS data, providing food price updates for rice, yam, beans, garri, maize, sorghum, and other popular Nigerian foods.
Source: Getty Images
The Statistician-General of the Federation noted that the update would prove to be a valuable statistical tool and called on Nigerians to collaborate with the agency by submitting price updates and regular feedback on the data.
Adeniran noted that while the agency is committed to providing accurate data, Nigerians need to support by leveraging technology, the GUARDIAN reports.
He added that the data will be updated in real-time on a dashboard and made available to all Nigerians.
To access the NBS food price update dashboard, click here.
NBS Data comes under questioning
Legit.ng earlier reported that experts were raising questions about the NBS data archives, after several alterations were spotted.
Checks show that the report was deleted from the website, days after it was released to the Nigerian public.
The report was later re-uploaded over the weekend, but now has major historical data missing from it.
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Source: Legit.ng
