Data is important.
Of course, as the Editor at Stears Business, I would say that. But it's true. If you didn't have information on your account balance, you wouldn't know if you have enough funds to engage in Lagos burger week or if you should just eat rice at home.
Without data, it isn't easy to plan and make sound decisions. You could be moving blindly or on "vibes," as the youth say. But that sounds like a recipe for disaster, especially when dealing with something important or delicate.
One delicate item right now is the Nigerian economy. If policymakers don't have information on how we are performing, it's difficult for them to respond. They need to see the economics or the evidence.
Otherwise, governments will be making moves that are mostly political.
At the start of the year, I highlighted eight important data points to measure Nigeria's economy (and