The Nigerian Meteorological Agency (NiMet) and the Central Bank of Nigeria (CBN) have signed a Memorandum of Understanding (MoU) on data sharing aimed at strengthening economic forecasting and evidence-based policymaking in Nigeria.
- +NiMet, CBN partner to strengthen economic forecasting through data sharing
The agreement was signed on Wednesday at the CBN Headquarters in Abuja by Charles Anosike, Director General and Chief Executive Officer of NiMet, and Muhammad Sani Abdullahi, Deputy Governor, Economic Policy Directorate of the CBN.
The agreement was signed on Wednesday at the CBN Headquarters in Abuja by Charles Anosike, Director General and Chief Executive Officer of NiMet, and Muhammad Sani Abdullahi, Deputy Governor, Economic Policy Directorate of the CBN.
Speaking during the signing ceremony, Anosike said the partnership would enhance the integration of weather and climate data into economic research and national planning, particularly in critical sectors such as agriculture, energy, and transportation.
He noted that extreme weather events continue to pose significant threats to agricultural productivity and food security, stressing that timely meteorological information is essential for informed policy decisions and economic resilience.
According to him, the collaboration aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu, which prioritises food security through large-scale agricultural investments, including the cultivation of 10 million hectares of land and the distribution of mechanised farming equipment.
Anosike cited recent global reports highlighting the growing impact of climate change on food systems. He referenced the World Bank’s 2026 report, which indicated that more than 87 million people are facing hunger in East and Southern Africa, while 52 million people are affected in West and Central Africa due to extreme weather conditions.
He also referred to the 2026 Berkeley Earth Report, which projected that 2026 could become the fourth warmest year on record, warning that the trend continues to influence agricultural and energy market projections globally.
In his remarks, Abdullahi described the MoU as a significant milestone in deepening collaboration between two major national institutions whose responsibilities intersect in the areas of data, research, and policy support.
He emphasised that in an increasingly complex economic environment, timely and credible data remain critical for effective decision-making and policy formulation.
The CBN Deputy Governor explained that the Economic Policy Directorate relies heavily on accurate statistical information from NiMet for inflation monitoring, agricultural sector analysis, and broader economic advisory functions.
He added that the partnership would strengthen institutional cooperation, improve national data systems, and support more robust, evidence-based economic policies.
