Economy
FG Agency NBS Feeding Nigerians False Inflation Figures – APC
APC claims a Federal Government agency is feeding Nigerians with false inflation figures.
Eko Hot Blog reports that the All Progressives Congress (APC) has baselessly claimed that the National Bureau of Statistics (NBS) is releasing false inflation figures to Nigerians.
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APC National Secretary, Ajibola Basiru, made the baseless claim on Wednesday night on Channels TV.
While host, Seun Okinbaloye, confronted Basiru with the fact that inflation has skyrocketed since the Bola Tinubu administration assumed office in May 2023, the APC chieftain said he disagreed with the official data released by an agency under the control of the federal government.
The ruling party’s secretary said he knows there are inflationary challenges but they are not up to the level reported by the NBS.
‘’I know that there is inflation challenges but I disagree it is not up to that level. I don’t agree,” he said.
“I don’t agree with you on the data, but what I only know is that there are inflationary challenges and I don’t agree with the figures you have quoted.”
APC National Secretary, Ajibola Basiru and Channels TV’s Seun Okinbaloye
The exchange began when Okinbaloye highlighted the inflation rate, which had risen from about 22% before President Tinubu took office on May 29, 2023, to approximately 34.19% in June 2024.
When pressed for his own figures, Basiru, who was quick to discredit the data, admitted he did not have alternative data, while maintaining his skepticism.
“It’s the NBS, with salaries paid by the government. I don’t agree,” the former Osun Central senator, who lost his reelection bid in 2023, insisted.
In recent months, the prices of food have skyrocketed which the federal government has acknowledged.
Despite cosmetic measures such as sending trucks of rice to states, the inflation challenges have persisted as food inflation figures have steadily gone up in the last one year.
According to latest data by NBS, the food inflation rate in June 2024 was 40.87% on a year-on-year basis, which was 15.62% points higher compared to the rate recorded in June 2023 (25.25%).
FURTHER READING
Despite the denial of reality by the APC national secretary, many Nigerians affected by high food costs continue to find it difficult to put food on their tables, according to a recent market survey.
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