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The Central Bank of Nigeria (CBN) has commenced the digitalisation of its Sub-National Fiscal Survey across the 36 states, the Federal Capital Territory (FCT) and 774 Local Government Areas (LGAs) to improve the accuracy, timeliness and reliability of fiscal data for economic policy decisions.
The initiative is expected to replace the largely manual reporting process with a digital platform that will standardise data collection, improve validation and support more frequent submissions by state and local governments.
The Director, Statistics Department of the CBN, Dr Usman Moses Okpanachi, disclosed this at a Sub-National Fiscal Statistics Stakeholders’ Engagement held recently in Abeokuta, Ogun State.
According to a statement from the apex bank Okpanachi said the initiative was designed to strengthen the flow of fiscal information from Ministries, Departments and Agencies (MDAs) and local governments to policymakers, providing a more reliable basis for evidence-based economic decisions.
He explained that reliable fiscal statistics were essential for sound economic management, as they enabled governments to assess revenue performance, expenditure patterns, financing needs and fiscal pressures.
According to him, timely and accurate data have become increasingly important as the CBN strengthens its forward-looking, data-dependent monetary policy framework and moves towards a more explicit inflation-targeting regime.
He noted that the existing twice-yearly survey, which relied largely on manual processes, faced challenges relating to timeliness, logistics, data validation and processing.
Okpanachi said the digital platform would address these challenges by simplifying submissions, standardising data entry, improving validation, enabling better monitoring and providing traceable correction procedures.
He added that the system would also support the transition to more frequent and sustainable quarterly submissions of fiscal returns.
The CBN director, however, stressed that technology would complement rather than replace proper record-keeping, reconciliation and professional judgement.
He urged state and local government authorities to ensure prompt submission of returns, proper validation of information and the appointment of designated focal officers to guarantee continuity in the implementation of the initiative.
The nationwide stakeholder engagement, which commenced on October 26, 2026, is expected to cover the remaining states by December 4, while the FCT is scheduled for December 9 and 10.
As of November 6, 16 states and their local governments had been covered, with attendance reaching 100 per cent in almost all the states visited.
The practical sessions are designed to equip state and local government fiscal officers with the skills required to operate the digital questionnaire, understand validation requirements and carry out submission and correction procedures.
“Following the exercise, trained officers are expected to cascade the knowledge within their institutions and beginsubmitting returns through the digital platform, while the Statistics Department consolidates implementation outcomes into a national report,” the bank said.
The CBN said the Statistics Department would consolidate the outcomes of the implementation exercise into a national report.
“The initiative, part of the CBN’s broader data architecture and transformation agenda, is expected to strengthen fiscal data for State and Local Government planning, budgeting and policy evaluation, while providing more timely and reliable information for monetary, financial and fiscal policy decisions,” CBN added.
