Data as defined by a dictionary: 1 are facts given, from which others may be inferred.
ln other words data can be seen as basic element of information which when processed
and structured, supply other information which aid policy makers in their short-term
operational and long-term strategic plan formulation, decision-making, monitoring
and evaluation process. Thus the importance of data for the purpose of planning and
monitoring socio-economic and political activities at both the macro and micro levels
of any society cannot be over-emphasized. The Central Bank of Nigeria in its role as a
principal advisory organ to the Federal Government of Nigeria generates and gathers
a lot of data and info rmation for the purpose of monitoring, appraising and evaluating
developme nts in the various sectors of the economy. The Real Sector Division of the
Research Department, Central Bank of Nigeria is charged with the responsibility of
monitoring and evaluating developments in the productive sectors of the economy.
These functions are carried out by the four offices in the Division, namely:
Agr icultural Studies office, the Industrial Studies office, the Economic Conditions
office and the Social Sectors Studies office. A brief exposition on the functions of
these four offices gives an insight into the enormous data needs of this very large
division of the Research Department
