The National Bureau of Statistics (NBS) in Nigeria continues to grapple with the fallout of a cyberattack that has rendered its website inaccessible since December 18, 2024. The breach occurred shortly after the bureau published a controversial survey revealing Nigerians paid N2.3 trillion in ransom within a year, prompting speculation about a possible connection. The website’s prolonged downtime has delayed the release of critical Consumer Price Index (CPI) and inflation data, typically scheduled for mid-month, raising concerns among analysts, policymakers, and investors reliant on this information.
Efforts to restore the NBS website are ongoing, with the agency assuring the public that steps are being taken to resolve the issue. However, the lack of access to key economic data has disrupted decision-making processes and sparked discussions about alternative data sources. In response, the Nigerian Marketing Research Association has pledged to develop private-sector solutions to mitigate reliance on official platforms. Meanwhile, the NBS has earmarked N35 million in its 2025 budget for cybersecurity improvements, highlighting its commitment to preventing future disruptions.
As the situation persists, ripple effects are being felt across Nigeria’s economic landscape. The Central Bank of Nigeria has rescheduled its first Monetary Policy Committee meeting of 2025 to February, underscoring the broader impact of the data blackout. The NBS has also announced plans to enhance its CPI reporting with three new indexes, though their release remains uncertain until the website is restored. This incident underscores the critical need for robust cybersecurity and diversified data sources in Nigeria’s economic framework.