The National Bureau of Statistics (NBS), which is the main agency in Nigeria responsible for collecting and sharing important data, is currently facing challenges after a cyberattack on its official website that happened on December 18, 2024.
As of January 14, 2025, the NBS website is still down, which raises concerns about whether it will be able to release important economic information, specifically the Consumer Price Index (CPI) and inflation data. This data is usually shared on the 15th of every month, and many people are eagerly waiting for it.
The cyberattack occurred shortly after the NBS published a sensitive report called the Crime Experience and Security Perception Survey. This survey indicated that Nigerians paid around 2.3 trillion naira in ransom over the course of a year. Due to the nature of this report, some people are speculating that there might be a connection between the release of the survey and the cyberattack.
After the attack, the NBS used its official X account (formerly known as Twitter) to confirm that their website had been hacked and to reassure the public that they were working hard to fix the issue. They also advised people to ignore any information coming from the hacked website until it was secure again.
Despite these reassurances, the ongoing inaccessibility of the NBS website has made it difficult for important economic data to be accessed. This situation has caused worry among policymakers, analysts, and investors who depend on the NBS for reliable statistics to make informed decisions.
In addition to dealing with the website issues, the NBS has announced plans to introduce three new indexes as part of its monthly CPI. These new indexes are expected to be included in a revised version of the CPI. However, the fact that the NBS website is still down raises questions about how this crucial information will be shared with the public.
Read Also: N200Bn USSD Debt: Bank Officials Seek Talks
In related news, the NBS spokesperson, Joel Ichedi, has not responded to inquiries from reporters about the situation. However, he previously mentioned that the delay in getting the website back up and running is due to a detailed investigation into the cyberattack and the recent holiday period, which has slowed down recovery efforts. He assured everyone that the website would be accessible again soon.
The NBS has also set aside 35 million naira in its budget for 2025 to improve its cybersecurity and data management capabilities. This is part of a broader plan to enhance its operations and services.
Meanwhile, the Nigerian Marketing Research Association has promised to develop private-sector alternatives to ensure that economic data remains available even during disruptions like this. They highlighted the importance of having multiple sources of data to reduce reliance on official agencies.
As the NBS continues to deal with the aftermath of the cyberattack, it was noted that the Central Bank of Nigeria has adjusted its schedule. The Monetary Policy Committee meeting, originally planned for January 27 and 28, 2025, has been moved, with the first meeting of the year now set for February 17 and 18, 2025.
