The Senate on Wednesday passed for first reading a bill seeking the establishment of a Federal Data Bank.
All Progressive Congress Senate member representing Ondo South, Senator Jimoh Ibrahim who sponsored the bill, explained that the purpose was to establish a federal data bank that would cover every sector of the economy and provide data for development for both the public and private sectors.
According to him, data is critical to economic planning and development, making the need for Data Bank very important in any vibrant economy for in-depth insights into customer behavior, the state of internal processes, and external risks, which will give room for variety, volume, velocity, and value.
He added that all levels of government can also benefit from the Federal to Local Government level with access to information.
Join our twitter community :
