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World bank, IMF, others publishing ‘wild estimates’ – Buhari



President Muhammadu Buhari has drawn the attention of Nigerians to data published by the World Bank, the International Monetary Fund and other global agencies.

The President, during the meeting with the recently established economic council, warned Nigerians not to mistrust statistics from world agencies.

Buhari said that some of the World Bank and other international organizations’ data were wild and inaccurate estimates, adding that local institutions were better suited to collecting documents than foreign agencies.

“Today, most of the statistics quoted about Nigeria are developed abroad by the World Bank, IMF and other foreign bodies.

“Some of these statistics are wild estimates that bear little relation to the facts on the ground.

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“We can only plan realistically when we have reliable data. As a government, we are taking very serious steps to improve the quality of data available for policymaking, and today I charged the Presidential Economic Advisory Council to prioritise the collection of primary data.

“We must domesticate our policies to reflect our local realities. While we very much welcome the cooperation and support we are getting from our friends abroad, it is important to make it clear that Nigeria can only truly move forward with homegrown solutions” Buhari said.