The Central Bank of Nigeria (CBN) has started digitalising its Sub-National Fiscal Survey across Nigeria's 36 states, the Federal Capital Territory (FCT), and 774 Local Government Areas (LGAs). This initiative aims to improve the accuracy, timeliness, and reliability of fiscal data for economic policy decisions. The digital platform will standardise data collection, improve validation, and support more frequent submissions by state and local governments.
According to Dr Usman Moses Okpanachi, Director of the CBN's Statistics Department, the digital platform will address challenges relating to timeliness, logistics, data validation, and processing associated with the existing twice-yearly survey. The new system will simplify submissions, standardise data entry, improve validation, enable better monitoring, and provide traceable correction procedures. This will support the transition to more frequent and sustainable quarterly submissions of fiscal returns.
The CBN's initiative is part of its broader data architecture and transformation agenda. The digital platform will strengthen fiscal data for state and local government planning, budgeting, and policy evaluation. It will also provide more timely and reliable information for monetary, financial, and fiscal policy decisions. Okpanachi stressed that technology will complement proper record-keeping, reconciliation, and professional judgement.
The nationwide stakeholder engagement, which commenced on October 26, 2026, will 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 aim to equip state and local government fiscal officers with the skills required to operate the digital questionnaire.
The CBN's Statistics Department will consolidate the outcomes of the implementation exercise into a national report. Trained officers are expected to cascade the knowledge within their institutions and begin submitting returns through the digital platform. The initiative will provide a more reliable basis for evidence-based economic decisions, enabling governments to assess revenue performance, expenditure patterns, financing needs, and fiscal pressures.
Reliable fiscal statistics are essential for sound economic management, particularly as the CBN strengthens its forward-looking, data-dependent monetary policy framework and moves towards a more explicit inflation-targeting regime. The digital platform will support more informed decision-making by policymakers, while also promoting transparency and accountability in fiscal data reporting.
The CBN has 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 success of the digital platform will depend on the effective utilisation of the system by state and local government fiscal officers.
Key points
- The CBN's digital platform will improve the accuracy and reliability of fiscal data for economic policy decisions.
- The initiative will support more frequent and sustainable quarterly submissions of fiscal returns.
- The digital platform will strengthen fiscal data for state and local government planning, budgeting, and policy evaluation.
