Business - News - February 3, 2021

Statistics agency commences nationwide business sample survey

The National Bureau of Statistics (NBS) has commenced the National Business Sample Survey (NBSS), the agencies spokesperson, Sunday Ichedi said on Tuesday in Abuja.
The survey, otherwise known as the survey of establishments, is expected to last for three weeks, subject to extension based on unforeseen exigencies.
The commencement of the exercise, Mr Ichedi said followed the successful completion of the listing of the establishments, which is a key component of the National Business Sample Census (NBSC).
The NBSS is a component of the NBSC involves in-depth study of sampled establishments based on the sectors in the economy identified in NBC.
Mr Ichedi said the objectives of the National Business Sample Survey include to gather the data required for the rebasing of the Gross National Product (GDP) between 2010 and 2018/2019·
The objectives also include to provide sectorial data at National and State levels; to determine the current structure of the Nigerian Economy; to determine the sectors that drive the Nigerian economy and those that require government intervention to improve them.
Also, the data that would be generated at the end of the survey would serve as a benchmark for subsequent commercial and industrial Sector Statistics Surveys,
The survey covers the 36 states of the Federation and the Federal Capital Territory (FCT), with all 17 sectors existing in the Nigerian economy to be covered during the Survey Exercise.
“Already, data collection on the Survey by NBS staff has commenced with lodgments of questionnaires in the selected Federal Government establishments, including ministries, departments and agencies (MDAs),” Mr Ichedi said.
He appealed to the selected establishments to endeavour to provide the necessary information required for the survey as their participation was important for the successful completion of the survey exercise.
A similar survey was conducted between October 12 and December 12, 2020 after 22 years (1997/98) to gather data about the economy in view of the re-structuring of the economy for faster growth through the support to Small, medium and large-scale enterprises by the government to increase their productivity.
The NBSC was conducted to compile frame, develop instruments and concepts, establish standards and methodology for industrial and business surveys in Nigeria; to serve as benchmark for updates of subsequent commercial and industrial sector statistics.
It also included to develop a national directory of commercial and industrial business establishments with all their associated social and economic characteristics; and to provide the country with comprehensive and detailed information about the structure of the Nigerian economy, among others.
The Census covered all the 36 states of the Federation and FCT, with establishments in all economic sectors involved in the exercise.

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