The Central Bank of Nigeria (CBN) has launched a digital Sub-National Fiscal Survey across the 36 states, the Federal Capital Territory (FCT) and 774 Local Government Areas (LGAs) to improve the collection and accuracy of government financial data.
The initiative, led by the Bank’s Statistics Department, is designed to replace the largely manual process of collecting fiscal data with a digital system that will provide faster, more accurate and reliable information for economic planning and policymaking.
Speaking at a stakeholders’ engagement on Sub-National Fiscal Statistics in Abeokuta, Ogun State, the Director of the CBN Statistics Department, Usman Okpanachi, said the initiative would improve the flow of financial information from Ministries, Departments and Agencies (MDAs) and local governments to policymakers.
Okpanachi explained that reliable financial data was essential for effective economic management, as it helps governments monitor revenue, spending, borrowing needs and other financial pressures.
He added that timely data had become increasingly important as the CBN strengthened its data-driven monetary policy framework and moved towards a clearer inflation-targeting system.
The CBN director noted that the previous survey, which was conducted manually twice a year, faced challenges relating to delays, logistics, data verification and processing.
He said the new digital platform would address these problems by simplifying data submission, standardising information, improving verification and allowing officials to track corrections more easily.
According to him, the system would also make it easier for states and local governments to submit financial reports quarterly rather than twice a year.
However, Okpanachi stressed that technology alone could not guarantee accurate records, noting that proper documentation, reconciliation and professional judgement remained essential.
He urged state and local government officials to submit their reports promptly, verify their figures and appoint designated officers to ensure continuity in the process.
He said the success of the initiative would be measured by improved data quality, faster submissions, more complete reports and better information for economic decision-making.
The CBN director also assured participants that the Bank would continue to provide technical and operational support through its branches and Statistics Department.
The nationwide stakeholder engagement, which began on October 26, 2026, is expected to cover the remaining states by December 4, while the FCT is scheduled for December 9 and 10.
The training sessions are designed to equip state and local government finance officers with the skills needed to use the digital questionnaire, verify information and submit or correct their reports.
As of November 6, 2026, the exercise had covered 16 states, with attendance reaching 100 per cent in almost all the states visited.
Following the training, participating officers are expected to share the knowledge gained with colleagues in their respective institutions and begin submitting reports through the digital platform.
The CBN’s Statistics Department will compile the submissions into a national report.
The initiative forms part of the Bank’s broader data improvement programme and is expected to provide more reliable financial information to support budgeting, planning and policy decisions at both state and federal levels.