In a strategic move to align with international best practices in the computation of Gross Domestic Products (GDP) and the measurement of the Consumer Price Index (CPI), the World Bank, in collaboration with the National Bureau of Statistics (NBS), convened a workshop in Abuja. The event that held from 24th to 25th February, 2025 in Abuja, brought together leading academics, policymakers, and key stakeholders at both at the Federal and State levels to refine the methodologies for computing national and state GDP, as well as CPI.
Among the notable participants invited was Professor Evans Osabuohien, Founding Chair of the DePECOS Institutions and Development Research Centre (DIaDeRC) and an esteemed professor of Economics at Covenant University. Professor Osabuohien played a pivotal role in technical discussions focused on ensuring that state GDP computations align with national GDP standards and in streamlining the coordination of CPI production in Nigeria.
Addressing common concerns, Professor Osabuohien dispelled fears that mentorship equates to being burdened with endless tasks. Instead, he encouraged mentees to embrace assignments from their mentors, as these tasks are crucial for skill acquisition and professional development. He also underscored the importance of self-discipline in avoiding professional pitfalls and urged participants to consistently strive for excellence in their endeavours. Furthermore, he emphasised the need for mentees to exit mentorship relationships amicably, ensuring that professional bridges remain intact. “When the time comes, walk away amicably—don’t burn the bridge,” he advised.
Professor Osabuohien, who has established a robust platform for training both young and experienced professionals, highlighted that mentorship can significantly influence career trajectories. However, he noted that for mentorship to be truly effective, it must be built on honesty, integrity, and mutual respect. He likened the mentor-mentee relationship to a co-piloted journey, where the mentee takes the lead while the mentor provides guidance.
Referencing his African Scholarship Mentorship Network (ASMN), he reiterated that mentorship fosters skill development, career advancement, expanded professional networks, and increased self-confidence. However, he acknowledged the challenges that often arise, including mismatched expectations, poor time management, communication breakdowns, and the balance between dependence and independence. He recommended addressing these issues through clear communication, time prioritisation, active listening, and periodic self-assessment.
The workshop aimed at developing a technical memorandum that would standardise GDP computations across the States, while reinforcing the integrity of CPI measurements. It provided a platform for extensive discussions on methodologies, data harmonisation, and coordination strategies among the NBS and the Statistician Generals of the federating States.
A key highlight of the event was the review of Nigeria’s economic data framework, particularly the need for rebasing. The participants noted that the last economic data rebasing occurred over 15 years ago (from last one in 2009 and the recent one in 2024), whereas international best practices recommend a five-year rebasing period. This critical issue was deliberated extensively, with experts emphasising the necessity for an updated framework that reflects the current economic realities.
The workshop featured comprehensive sessions on the following themes: Production of state GDP in alignment with national GDP, Concepts and methodologies of GDP computation, Harmonisation of technical processes for coordination and data exchange, and Coordination and computation methodologies for CPI.
Other dignitaries at the event include Statistician Generals from 12 selected States across Nigeria’s geopolitical zones, technical experts from the World Bank, members of the academic community (such as President of the Nigerian Economic Society-NES, Prof Adeola Adenikinju ably represented Dr Justin Amase, his Special Adviser). Others include experts from Think Tanks, private sector, government agencies (e.g., Central Bank of Nigeria-CBN), and development partners (International Monetary Fund-IMF). They contributed their expertise to ensure a more robust and standardised data collection and reporting system. This initiative marks a significant step toward enhancing Nigeria’s economic data integrity and aligning its statistical processes with global standards, ultimately strengthening economic policy formulation and implementation.
On the side-lines of the workshop, Professor Evans Osabuohien had the opportunity to interact with several of his mentees, former graduate students from Covenant University, and alumni of the African Scholars Mentorship Network (ASMN), further fostering academic collaboration and mentorship. He also paid a courtesy call to one of his mentors and Former Vice-Chancellor of Covenant University, Prof Jonathan Aremu at his Acropolis Park.
