The Central Bank of Nigeria (CBN) AND the Nigerian Meteorological Agency (NiMet) have signed a landmark Memorandum of Understanding (MoU) on data sharing at the CBN Head Office in Abuja, Nigeria, on Wednesday, May 13, 2026.
In his remarks, Dr. Muhammad Sani Abdullahi, Deputy Governor, Economic Policy Directorate of the CBN, said the signing of the MoU marked an important step in strengthening the partnership between two key national institutions whose mandates intersect in data, research, and policy support. He emphasized that, in an increasingly complex and dynamic economic environment, timely and reliable data remain essential for effective policy decisions.
He further noted that the Economic Policy Directorate relies heavily on timely and credible statistical information from NiMet. Such data, he said, 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.
Commenting, the Director General and Chief Executive Officer, Prof. Charles Anosike highlighted the importance of integrating weather and climate data into economic research, especially in sectors such as agriculture, energy, and transportation. He noted that extreme weather events can reduce agricultural productivity and threaten food security.
He added that the collaboration aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu GCFR, which prioritizes food security through major agricultural investment, including the cultivation of 10 million hectares of land and the distribution of mechanised equipment.
Prof. Anosike cited the World Bank (2026), which reports that extreme weather driven by climate change is 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 also referenced the Berkeley Earth Report (2026), which projects that 2026 is likely to be the fourth warmest year on record, a trend that continues to shape agricultural and energy market projections.
At the close of the event, Prof. Charles Anosike, Director General/CEO of NiMet, and Muhammad Sani Abdullahi, PhD, Deputy Governor, Economic Policy Directorate of the Central Bank of Nigeria, signed the MoU on behalf of their respective institutions.
