Speaking on the sidelines of the IMF/World Bank spring meetings in Washington DC, United States, Ibrahim emphasised the role of data in economic and political development.
“Without data, no one can effectively reduce crime or operate a government aimed at achieving poverty reduction,” he said.
“Population data and individual details suggest that citizens should have an identity passport to capture pertinent information about who they are and what they do”.
Ibrahim highlighted the importance of currency data for central banks to understand the circulation of money within and outside the banking sector.
He also discussed the necessity of electoral data for analysing public participation in the political process.
“Every sector of the economy requires data, and if action is not taken now, in five years, it will be impossible to run any government without data,” he said.
Ibrahim also urged African countries to dedicate 15 percent of their national budgets to technology-powered data infrastructure for the next decade, adding that it would create the foundation for long-term growth.
The senator cautioned the IMF against making projections without empirical data, arguing that such methods are flawed.
Ibrahim also disclosed that the Nigerian government is working on a data bank bill, which would establish a national repository for data and urged the World Bank to support the initiative.
