NBS Website Hack Delays Inflation Data Release

The National Bureau of Statistics (NBS), Nigeria’s main agency for data dissemination, is still dealing with the aftermath of a cyberattack on its official website, which happened on December 18, 2024.

As of January 14, 2025, the website is still down, raising concerns about the timely release of its important Consumer Price Index and inflation data, usually published on the 15th of each month.

The hack occurred shortly after the NBS released its controversial Crime Experience and Security Perception Survey, which revealed that Nigerians paid an estimated N2.3tn in ransom within a year. The sensitive nature of the report has led to speculation about a possible link between the survey’s release and the cyberattack.

Following the breach, the NBS confirmed the incident on its official X (formerly Twitter) account, assuring the public that efforts were underway to restore the website. The agency advised users to disregard any information from the compromised platform until the situation was resolved.

Despite these assurances, the prolonged downtime has disrupted access to critical economic data, causing concern among policymakers, analysts, and investors who rely heavily on the bureau’s statistics for decision-making.

In a related development, the NBS has announced plans to introduce three new indexes in its monthly CPI. The new additions are expected to be part of the rebased CPI. However, the continued inaccessibility of the NBS website casts doubt on how this critical report will be disseminated.

NBS spokesperson Joel Ichedi did not immediately respond to calls and WhatsApp messages from our correspondent on Tuesday. However, he earlier stated that the delay in restoring the website was due to a thorough investigation of the incident and the extended holiday period, which has hindered timely recovery efforts. He assured that the site will soon be accessible to Nigerians as efforts are ongoing to restore it.

It was earlier reported that the National Bureau of Statistics has earmarked N35m in its 2025 budget proposal for “Capacity Building on Cybersecurity and Data Centre Management.”

In addition to the cybersecurity allocation, the NBS’s 2025 budget proposal includes several other projects aimed at improving its operational efficiency, modernising infrastructure, and enhancing service delivery.

Meanwhile, the Nigerian Marketing Research Association recently pledged to develop private-sector alternatives to ensure the availability of economic data in situations like this. The association emphasised the importance of diversified data sources to mitigate the impact of disruptions from official agencies.

As the NBS battles with the attack on its website, it was observed that the Central Bank of Nigeria has moved its Monetary Policy Committee meeting previously scheduled for January 27 and 28, 2025. The updated calendar on the apex bank’s website showed that the committee will meet five times this year, with its first meeting slated for February 17 and 18, 2025.