By Jemilu Hassan
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The National Secretary of the All Progressive Congress (APC), Surajudeen Basiru, has stated that Nigeria’s inflation rate, as reported by the National Bureau of Statistics (NBS), is exaggerated ¹. Here are some key points about his statement:
The NBS reported an inflation rate of 34.19% for June 2024.
Basiru claims that the inflation rate is not as high as reported and that the NBS is working on rebasing the GDP.
Basiru attributes the economic hardships to global events like the Middle East crisis and the COVID-19 pandemic.
Basiru also addressed the planned ’10 days of rage’ protest organized by Nigerian youths, describing it as politically motivated and unrelated to the economic issues at hand.
The Nigerian government has taken several steps to address the rising cost of living, including suspending duties, tariffs, and taxes on major foodimports.
Surajudeen Basiru, the National Secretary of the All Progressive Congress (APC), has disputed the National Bureau of Statistics’ (NBS) data on Nigeria’s inflation rate. When confronted with the data, Basiru insisted that the NBS data is exaggerated and doesn’t reflect the true state of the economy. Claimed that Nigeria’s inflation rate has actually slowed down over the past four months, contradicting the NBS report.
Basiru’s response suggests that he doesn’t accept the NBS data as a reliable indicator of the country’s economic situation. This disagreement highlights the ongoing debate about the accuracy of Nigeria’s economic data and the government’s handling of the economy.