The National Secretary of the All Progressive Congress (APC), Ajibola Basiru, has rejected the latest inflation data published by the National Bureau of Statistics (NBS), stating that they are overstated.
During an appearance on Channels Television’s ‘Politics Today’ show on Wednesday evening, Basiru contended that the reported inflation rate of 34.19% for June 2024 is not correct.
Basiru, a lawyer and former senator, disputed the severity of Nigeria’s inflation issues portrayed by the NBS data. He suggested that the ongoing GDP recalibration by the NBS might not accurately capture the current economic reality.
He stated, “I am aware that NBS is currently working on analyzing and rebasing our GDP, and when the figures come out, then you can now be talking of a correct figure. I know that there are inflation challenges, but they are not up to that level.”
The government removed taxes on essential food imports to combat high living costs, but inflation keeps rising, making life harder for many Nigerians. Basiru stated that global events like the Middle East crisis and the COVID-19 pandemic are causing economic challenges worldwide, not just in Nigeria.
Basiru discussed the upcoming ’10 days of rage’ protest by Nigerian youths, set for August 1 to 10, describing it as politically driven and disconnected from the current economic concerns.
He advised patience among Nigerians, highlighting President Bola Tinubu’s administration’s committed efforts to address inflation and other economic difficulties.
, Ajibola Basiru, has rejected the latest inflation data published by the National Bureau of Statistics (NBS), stating that they are overstated.){kind=link}