CBN and NiMet sign MoU to enhance inflation tracking and policy formulation using climate and weather intelligence.
Nigerian Meteorological Agency (NiMet), led by its Director-General and Chief Executive Officer, Professor Charles Anosike, Wednesday in Abuja, signed a landmark Memorandum of Understanding (MoU) with Central Bank of Nigeria (CBN) on data sharing to improve the country’s economic decision-making.
Speaking at the event, Anosike highlighted the importance of integrating weather and climate data into economic research, especially in sectors, such as agriculture, energy, and transportation.
He stated that extreme weather events could reduce agricultural productivity and threaten food security.
Anosike cited the World Bank (2026), which reported that extreme weather, driven by climate change, was significantly affecting global food security, with more than 87 million people facing hunger in East and Southern Africa and 52 million in West and Central Africa.
He added that the collaboration aligned with the Renewed Hope Agenda of President Bola Ahmed Tinubu, which prioritises food security through major agricultural investment, including the cultivation of 10 million hectares of land and the distribution of mechanised equipment.
He also referenced the Berkeley Earth Report (2026), which projected that “2026 is likely to be the fourth warmest year on record, a trend that continues to shape agricultural and energy market projections.”
In his remarks, Deputy Governor, Economic Policy Directorate of CBN, Muhammad Abdullahi, said the signing of the MoU marked an important step in efforts to strengthen the partnership between two key national institutions whose mandates intersected in data, research, and policy support.
Abdullahi emphasised that, in an increasingly complex and dynamic economic environment, timely and reliable data remained essential for effective policy decisions.
He further stated that the Economic Policy Directorate, relied heavily on timely and credible statistical information from NiMet, stating, “Such data are critical for inflation monitoring, agricultural sector assessment, and broader economic policy advisory functions.”
He described the initiative as both timely and important, adding that strong institutional partnerships are essential for strengthening evidence-based policymaking and improving the robustness of national data systems.
At the close of the event, Anosike and Abdullahi signed the MoU on behalf of their respective institutions.
