The Senate is paving the way for a Federal Data Bank, aiming to streamline access to crucial information vital for planning and development. Sponsored by Senator Jimoh Ibrahim, the bill passed its first reading, emphasizing the importance of a data bank to provide services across private and public sectors. Senator Ibrahim highlighted data’s critical role in economic planning and stressed the need for a centralized data bank to facilitate insights into customer behavior, internal processes, and external risks. He underscored the potential for the Federal data bank to be self-sustainable, receiving and selling data, with possible support from international institutions.
