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Home Business & Finance

NBS Budgets N35 Million for Cybersecurity After Website Hack

Benita OrumabyBenita Oruma
December 26, 2024
in Business & Finance
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NBS Budgets N35 Million for Cybersecurity After Website Hack
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The National Bureau of Statistics (NBS) has allocated N35 million in its 2025 budget proposal to enhance cybersecurity following a cyberattack that compromised its website on December 18, 2024. The attack occurred shortly after the agency published its Crime Experience and Security Perception Survey, which revealed that Nigerians paid a staggering N2.23 trillion in ransom within one year (May 2023 to April 2024).

Table of Contents

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  • Key Allocations in the NBS 2025 Budget
  • Why It Matters
  • Bottom Line

Key Allocations in the NBS 2025 Budget

In its proposed N9.85 billion budget, the NBS has outlined several other initiatives aimed at improving data collection and analysis:

  • Labour Force Survey: N500 million allocated to assess workforce trends.
  • Consumer Price Index (CPI) Production: N80 million earmarked to track inflation.
  • Quarterly GDP Compilations: N60 million set aside for consistent economic reporting.
  • National Agricultural Sample Survey: N55 million allocated to monitor agricultural trends.
  • 8-Point Agenda Tracking: N50 million to evaluate progress on government priorities.
  • Service Delivery Capacity Building: N45 million for training and development.
  • Demographic Statistics: N15 million to improve population data.
  • Annual Abstract of Statistics: N9 million for the yearly statistical summary.

Why It Matters

The cybersecurity breach highlights the growing importance of securing critical government data in the digital age. By allocating N35 million for cybersecurity improvements, the NBS aims to prevent future disruptions and maintain public trust in its data. Additionally, the bureau’s investments in labor, inflation, GDP, and agriculture tracking reflect its commitment to producing reliable statistics to guide policymaking and economic planning.

Bottom Line

The NBS’s 2025 budget underscores a dual focus on modernizing its cybersecurity infrastructure and enhancing data-driven governance. As Nigeria navigates complex economic and security challenges, these initiatives are crucial for informed decision-making and sustainable development.

Tags: Cybersecurityfederal characterHacknbsNBS Budgets N35 Million for Cybersecurity After Website HackNewswebsite
Benita Oruma

Benita Oruma

Benita Oruma is a lawyer in training, a 400 level student in the university of Ibadan. She is a content writer with interest in corporate affairs and the marketplace.

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