The National Bureau of Statistics (NBS) has launched its first set of price data compiled through a crowd-sourcing initiative as part of efforts to improve the timeliness and accuracy of price tracking across Nigeria.
This was disclosed in a press statement issued by the Head of Public Relations, Folorunso Alesanmi, on behalf of the Statistician-General of the Federation.
The launch, which was announced on Tuesday, marks what the Bureau described as a “major step forward” in its strategy to modernise data collection processes and strengthen real-time economic reporting.
“We are thrilled to release our first prices data compiled through crowd-sourcing,” said the Statistician-General of the Federation, Prince 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 crowdsourcing programme, which commenced several months ago, compiles daily price data from a wide network of sources, including open markets, supermarkets, neighbourhood shops, street outlets, bulk stores, and large retail outlets. Data collection has been conducted across all 36 states, the Federal Capital Territory (FCT), and all senatorial districts.
The Bureau explained that the newly released data offers daily insights into the prices of essential food items such as local rice, white beans, white maize, garri, and yam — all staples heavily consumed by Nigerian households.
How the new system differs from CPI price data
Unlike the traditional price data used for the Consumer Price Index (CPI), which is collected at specific, predetermined outlets during the second and third weeks of each month, the NBS clarified that the new crowd-sourced data is gathered randomly every day.
“This is not the same with the ones compiled for Consumer Price Index; price data for CPI computation are collected on specific or predetermined outlets every second and third week of the month. But price data collected via crowd-sourcing is collected randomly from different respondents every day,” the Bureau said.
The NBS stated that the crowd-sourced price data is updated daily and made accessible to the public via a dedicated dashboard. Users can view, analyse, and download data in real-time, providing a transparent and dynamic view of price changes across the country.
To guarantee data reliability, the Bureau explained that it had implemented various quality control measures, including validation and verification processes, to ensure the accuracy and integrity of the information.
“The National Bureau of Statistics’ crowd-sourcing initiative aims to modernise data collection, providing timely and accurate statistics,” it stated.
The NBS also encouraged citizens to participate actively in the crowd-sourcing programme by submitting price data and feedback to help build a more robust and inclusive statistical system.
According to the Bureau, the launch of the crowd-sourced price data platform reinforces its broader commitment to innovation, collaboration, and delivering timely, accessible information for policymakers, entrepreneurs, researchers, and the general public.
