The National Bureau of Statistics (NBS) has released its first price data compiled through a groundbreaking crowdsourcing initiative.

In a statement on Tuesday by its spokesperson Folorunso Alesanmi, NBS said the innovative approach to data collection marks a significant milestone in the bureau’s efforts to provide timely and accurate statistical information to policymakers, researchers, and the general public.

It said the crowdsourcing initiative, which started several months ago, aimed to compile price data daily from a wide range of sources, including open markets and supermarkets across Nigeria.

The bureau said other sources included neighbourhood shops, bulk and discount stores, street outlets, and large shops.

It said the data released on Tuesday provided insights into prices of essential food items, such as rice (local), beans (white), maize (white), garri, yam, and others commonly consumed by Nigerians while offering a snapshot of daily food costs.

“The NBS plans to update this data daily, equipping entrepreneurs, policymakers, and researchers with a valuable tool for tracking price movements and informing decision-making,” it stated.

It noted that by leveraging the power of crowdsourcing, the bureau collected a vast amount of data that would help provide a more accurate picture of price movements.

The statement quoted Adeyemi Adeniran, Statistician-General of the Federation, as saying, “We are thrilled to release our first prices data compiled through crowdsourcing.

“This initiative represents a major step forward in our efforts to harness the power of technology and innovation to improve the quality and timeliness of our statistical data.”

It added that the crowd-sourced data was accessible through a dedicated public dashboard, where users could view, analyse and download the data in real-time to enhance transparency and accessibility.

“The NBS’ crowdsourcing initiative aims to modernise data collection, providing timely and accurate statistics.

“The bureau hereby invites citizens to participate by submitting price data and feedback to build a robust statistical system for a rapidly changing economy,” the statement said.

According to the statement, the NBS remains committed to ensuring the quality and accuracy of the data collected through crowdsourcing.

“To this end, the agency has implemented a range of quality control measures, including data validation and verification processes, to ensure that the data is reliable and trustworthy,” it said.

The statement also said the price data compiled through crowdsourcing was not the same as the ones compiled for the Consumer Price Index (CPI).

“Prices data for CPI computation are collected on specific or predetermined outlets every second and third week of the month.

“But price data collected via crowdsourcing are collected randomly from different respondents every day,” it stated.

The statement urged the public and other stakeholders to visit the NBS website at www.nigerianstat.gov.ng. for more information about the crowdsourced prices data.

(NAN)