The Central Bank of Nigeria is preparing to move its survey of state and local government finances to quarterly digital reporting, seeking fresher fiscal information for its inflation analysis.
The survey spans 36 states, the Federal Capital Territory and 774 Local Government Areas. It currently runs twice a year and relies largely on manual work, which the CBN says has caused delays and logistical problems. The planned platform is intended to give officials a consistent way to enter figures and make it easier to submit revisions and review the data.
Statistics Department Director Dr. Usman Moses Okpanachi said the information helps policymakers assess how government revenue, spending and financing affect demand, liquidity, borrowing conditions and inflation. The CBN has linked the effort to changes in its monetary policy approach, which it says will place greater emphasis on incoming data and inflation targets. Okpanachi said digital tools would support officials' existing record-keeping and review work.
The engagement began Oct. 26. By Nov. 6, officials had covered 16 states and their local governments, according to the CBN. The remaining state sessions are scheduled to finish by Dec. 4, with meetings in the Federal Capital Territory set for Dec. 9–10.
The CBN's March 2020 Service Charter described its State and Local Government Fiscal Priority Tables as biannual, with publication planned for the ends of May and November after the surveys. After the current sessions, trained officials are expected to share what they learned within their institutions and start submitting returns through the platform. The Statistics Department is expected to compile a national report on the exercise's outcomes. The next scheduled engagement milestone is the completion of state sessions by Dec. 4.
