1. DATA IS MORE VALUABLE
THAN OIL.
BUILDING AN
INTEGRATED DATA SYSTEM
for a new era of
ECONOMIC PROSPERITY IN NIGERIA.
Sola Bickersteth
Financial Inclusion Centers

2. Why is this new economic
development model necessary?
o Accordingly to OPEC Annual Statistical Bulletin , Nigeria’s oil
reserve has reduced to 36,9Billion barrels in 2021 , this is
equivalent to 45 years of supply of no new oil is found.
o Crude oil is presently the backbone of Nigeria’s economy ,
accounting for 75% of the country’s government revenue
o Numerous efforts by various governments at diversifying the
countries economy has yielded limited success , largely because
of the absence of verifiable , reliable and usable data on not only
its over 40 other mineral resources , 70.8Million hectares of
agriculture land , over 200 million various livestock ( FAO 2021 )
but most importantly an estimated population of 208 Million as at
Jan 2021 .equivalent to 2.64% of present world population
o The World Bank Development Report 2021 – Data for Better
Lives explores the tremendous potential of data to improve the
lives of the poor , generate economic activities and social value
far beyond those originally anticipated :
o Many barriers stand in the way of harnessing this important
economic resource, ranging from misaligned incentives and
incompatible data systems to a fundamental lack of
trust.. while also acknowledging its potential to open back
doors that can harm individuals, businesses, and societies.
o In order not to be left behind in this new world order ,
Nigeria needs to develop an Integrated National Data
Strategy that enables the use and reuse of data to
create economic and social value, ensure equitable
access and foster trust that data will not be
misused in harmful way

3. By building an Integrated National Data System ( INDS ) , Nigeria
can realize the full value of data for development.
The system should provide a framework for trustworthy, equitable
production, fl ow, and use of data. It is built on an approach to data
governance that is intentional, involves all tiers of government
agencies , multi stakeholder. and collaborative
To be sustainable, it must be continually improved. This will depend
on having highly skilled human resources in government, civil
society, academia, and the private sector.
Robust data protection is critical to building an INDS As the scope of
such a system expands, the economic, social, and development
returns increase, as do the data protection requirements.
A well-functioning system requires people to produce, process, and
manage high-quality data; people to populate the institutions that
safeguard and protect the data from misuse; and people to draft, and
implement data policies, and regulations.
Use data as a factor of production in both the public sector—for
policy design and implementation—and the private sector—for
decision-making and innovations in products and services.
All this requires robust data literacy.
Meanwhile, at the end of the day, it is people who
will benefit from an integrated national data system
The features of an
Integrated National Data System

4. Infrastructure policies. Internet Access use and
affordability Establishment of internet exchange points (IXPs).
Investments in colocation data centres and cloud providers.
Laws and regulations. Data openness, use and protection
The rights of individuals on the use of their personal data
Independent data protection authority and cybersecurity
Economic policies. Anticompetitive behaviour by data firms.
Executive policies to maximize the value of data.
Facilitate cross-border services like financial and telecoms
Institutions. Multi stakeholders body for strategic direction
Data governance office. National statistical office
Data protection and antitrust authority, NGO watchdogs
The Pillars of an Integrated
National Data System
Putting these pillars in place for the national data system is not
easy. They need to be anchored in a solid foundation of human
capital, trust, funding, incentives, and data demand.
Trust in particular plays a critical role in facilitating the integration
of participants and their data. It is essential to binding
the national data system to the social contract on data
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5. PUBLIC SECTOR : This Federal . State and Local Governments ,
International development agencies and organisations ,
Steps to achieve a National
Integrated Data Network
PRIVATE SECTOR : This includes individuals , private companies
, academic institutions , NGOs and Civil Societies ,

6. In summary, the successful deployment of a national
data system in Nigeria will create an environment in
which the value of data can be maximized.
The impact of data on development increases with the
number of participants safely producing ,exchanging,
using, reusing and repurposing the data.
This document has laid out steps for Investing in these
cross-cutting steps that can have wide-ranging benefits
for all participants in the national data system and for
development, but they will require commensurate
financial and political commitments
What is the conclusion ?