The Statistician-General of the Federation and CEO of the National Bureau of Statistics (NBS), Prince Adeyemi Adeniran, has clarified that the planned rebasing of Nigeria’s Consumer Price Index (CPI) and Gross Domestic Product (GDP) is being conducted without any ulterior motive or favoritism. Speaking at a sensitisation workshop organized by BudgIT in Abuja, Adeniran emphasized that the revision aims to accurately reflect the current economic structure by incorporating new sectors, updating the consumption basket, and refining data collection methods.
He further explained that the simultaneous rebasing of both indicators is due to the availability of funds, noting that the exercise should occur every five years according to international standards. Adeniran assured that the rebasing is conducted to measure the economy accurately in line with global best practices and standards, without favoring any entity or private organization.
“This is our responsibility as the official producer of data in Nigeria. Through this open process, we are further committing to maintaining an open dialogue with all stakeholders, including civil society organizations,” Adeniran stated.
Gabriel Okeowo, the Country Director of BudgIT Nigeria, echoed this sentiment, urging that data released must align with the everyday realities of Nigerians. He acknowledged skepticism surrounding the revision but affirmed that accurate data cannot be concealed as it ultimately reflects in the lived experiences of the people.
The NBS’s commitment to transparency and accuracy in rebasing the CPI and GDP underscores its dedication to providing reliable economic data for Nigeria.
AT Reporter