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Bullion

Keywords

Agriculture, Statistics, Food Security, Macroeconomics Policy

Abstract

All over the country and internationally, the publications of the Central Bank of Nigeria (CBN) such as the Annual Report and Statement of Accounts, the Statistical Bulletin, Economic and Financial Review, the Bullion and Nigeria: Major Economic and Banking Indicators and those of the National Bureau of Statistics (NBS) have become a veritable source of data and reference materials on Nigeria. Without basic i n f o r m a t i o n o n e c o n o m i c developments, it would be very difficult for policy makers to assess economic performances. The f o r m u l a t i o n o f a p p r o p r i a t e macroeconomic policies to address the problems of inflation (food shortages), balance of payments disequilibrium, sluggish economic growth and inequitable income distribution requires adequate, reliable and up-to-date data. Agriculture constitutes one of the most important sectors of the Nigerian economy. Despite Nigeria's r i c h a g r i c u l t u r a l r e s o u r c e endowment and the various policies i n s t i t u t e d b y s u c c e s s i v e administrations, the sector has been growing at a very low rate and this has increased the incidence of poverty in Nigeria especially in the informal sector. However, in the last forty-nine years, the sector which suppose to be the main driver to economic growth has not perform this role adequately in terms of foreign exchange earnings and better linkages with other sectors of the economy. To redress this enigma and to bring back the old glory of the sector and these cannot be divorce from adequate, reliable and consistent statistics.

Author Bio

AKINBOYO, O. I. is a Principal Statistician, Statistics Department, Central Bank Of Nigeria, Abuja.

Publication Title

Bullion

Issue

4

Volume

32

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