NiMet, CBN Seal Data-Sharing Deal to Strengthen Economic Planning

JOEL OLADELE, Abuja

The Nigerian Meteorological Agency (NiMet) and the Central Bank of Nigeria (CBN) have signed a landmark Memorandum of Understanding (MoU) aimed at improving economic planning and policy formulation through enhanced data sharing and research collaboration.

The agreement was signed on Wednesday at the CBN headquarters in Abuja by the Director-General and Chief Executive Officer of NiMet, Prof. Charles Anosike, and the Deputy Governor of the CBN’s Economic Policy Directorate, Dr Muhammad Sani Abdullahi.

The partnership is expected to deepen the integration of weather and climate information into Nigeria’s economic policy framework, particularly in sectors such as agriculture, transportation and energy.

Speaking during the signing ceremony, Prof. Anosike said the collaboration became necessary due to the growing impact of climate change and extreme weather conditions on economic activities and food security.

According to him, weather and climate data have become critical tools for economic forecasting and policy decisions across major sectors of the economy.

He noted that extreme weather conditions continue to threaten agricultural productivity and global food systems, making climate-related data increasingly important for national planning.

Anosike linked the initiative to the Renewed Hope Agenda of President Bola Ahmed Tinubu, particularly the administration’s focus on food security through large-scale agricultural investments and mechanisation.

He cited recent global reports showing worsening climate conditions and rising hunger levels in parts of Africa due to extreme weather events.

“The collaboration aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu, which prioritises food security through major agricultural investment,” Anosike said.

He also referenced findings by the World Bank indicating that millions of people across Africa are currently facing food insecurity linked to climate-related disruptions.

The NiMet boss further pointed to projections by Berkeley Earth that 2026 could emerge as the fourth warmest year ever recorded globally, with implications for agriculture, energy supply and market stability.

In his remarks, CBN Deputy Governor, Dr Muhammad Sani Abdullahi, described the agreement as a major step towards strengthening evidence-based policymaking in Nigeria.

He said the collaboration between both institutions reflects the increasing importance of reliable data in managing a rapidly changing economic environment.

According to Abdullahi, the Economic Policy Directorate of the CBN relies heavily on credible and timely data from agencies such as NiMet for inflation tracking, agricultural sector analysis and broader economic policy decisions.

“In an increasingly complex and dynamic economic environment, timely and reliable data remain essential for effective policy decisions,” he said.

He added that stronger partnerships among public institutions would improve national data systems and enhance the quality of economic research and policy implementation.

The agreement is expected to facilitate easier exchange of climate, environmental and economic data between both agencies, while supporting more informed decisions in areas linked to inflation, food production and national development planning.

Stakeholders at the event described the partnership as a significant step towards aligning scientific forecasting with economic governance in Nigeria.