The Central Bank of Nigeria and the Nigerian Meteorological Agency have sealed a key Memorandum of Understanding (MoU) on data sharing aimed at deepening evidence-based economic planning and strengthening Nigeria’s response to climate-related risks affecting key sectors of the economy.
The agreement, signed at the CBN headquarters in Abuja on Wednesday, is a major institutional collaboration between Nigeria’s apex bank and the nation’s meteorological agency to integrate weather and climate intelligence into economic research, policy formulation and national development planning.
Speaking during the signing ceremony, Director General and Chief Executive Officer of NiMet, Charles Anosike, described the partnership as a strategic intervention that would improve decision-making across critical sectors such as agriculture, transportation, energy and disaster risk management.
According to him, the growing impact of climate change and extreme weather events has made it imperative for economic institutions to rely on accurate meteorological data in shaping national policies.
He noted that adverse weather conditions continue to threaten agricultural productivity and food security globally, stressing that timely climate information has become indispensable for economic forecasting and national resilience.
“Integrating weather and climate data into economic research is no longer optional. Extreme weather events have direct implications for food production, inflation, transportation systems and energy planning,” Anosike said.
He explained that the collaboration aligns with the Renewed Hope Agenda of President Bola Ahmed Tinubu, particularly the administration’s emphasis on food security through large-scale agricultural investments, mechanisation and expanded cultivation initiatives.
Anosike pointed out that the Federal Government’s target of cultivating 10 million hectares of land and distributing mechanised farming equipment would require reliable weather intelligence to ensure optimal planning and productivity.
Citing recent global reports, the NiMet boss said climate-induced extreme weather is increasingly disrupting food systems and economic stability across Africa and beyond.
Referencing the 2026 World Bank report, he disclosed that more than 87 million people in East and Southern Africa and another 52 million people in West and Central Africa are currently facing hunger due to climate-related disruptions.
He also cited the 2026 Berkeley Earth Report, which projects that 2026 could emerge as the fourth warmest year on record globally, warning that rising temperatures continue to shape agricultural output projections, energy demand and market expectations.
In his remarks, Deputy Governor, Economic Policy Directorate of the CBN, Muhammad Sani Abdullahi, said the MoU represents a significant step in strengthening collaboration between two strategic national institutions whose mandates intersect around research, statistics and policy support.
He emphasized that in today’s increasingly complex economic environment, access to timely, credible and high-quality data remains critical for effective policymaking.
According to Abdullahi, the Economic Policy Directorate of the apex bank depends heavily on statistical and climate-related information from NiMet for inflation monitoring, agricultural sector assessments and broader macroeconomic policy advisory functions.
He described the partnership as both timely and necessary, adding that stronger institutional cooperation would improve the quality of Nigeria’s national data systems and enhance evidence-based governance.
“Strong institutional partnerships are essential for strengthening evidence-based policymaking and improving the robustness of national data systems,” he said.
Analysts say the agreement could significantly improve Nigeria’s economic forecasting capabilities by enabling policymakers to better anticipate climate-related shocks that often impact food prices, inflationary trends, transportation logistics and energy supply chains.
The MoU was formally signed on behalf of the two institutions by Prof. Charles Anosike for NiMet and Dr. Muhammad Sani Abdullahi for the Central Bank of Nigeria, sealing what stakeholders described as a transformative partnership between climate science and economic policy management in Nigeria.
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