The National Secretary of Nigeria’s ruling All Progressives Congress (APC), Surajudeen Basiru, has challenged the accuracy of inflation data released by the National Bureau of Statistics (NBS), calling it “exaggerated.”
During an appearance on Channels Television’s primetime show ‘Politics Today’ on Wednesday evening, Basiru disputed the NBS’s latest inflation figures when confronted with them by the program’s host.
Basiru 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 former senator and lawyer insisted that Nigeria’s inflation rate had actually slowed over the past four months, contradicting the NBS data presented during the interview.
According to the most recent NBS report, Nigeria’s inflation rate stood at 34.19% as of June, marking the fifth consecutive month of increases. This surge has left many Nigerians struggling with a rising cost of living.
Basiru attributed the current economic hardships and food insecurity to global events, including the Middle East crisis and the COVID-19 pandemic. He emphasized that these challenges are not unique to Nigeria, stating, “Nigerians are not the only victims of the economic hardship; it is a global problem.”
The APC National Secretary also addressed the upcoming nationwide ’10 days of rage’ protest scheduled for August 1-10. Organized by young Nigerians, the demonstration aims to voice grievances over hunger and insecurity in the country. Basiru dismissed the protest as politically motivated, asserting it has “nothing to do with the economy.”
He urged Nigerians to be patient, stating that President Bola Tinubu’s administration is working diligently to address inflation concerns.
In response to Basiru’s claims, political economist Professor Pat Utomi, who also appeared on the program, cautioned against stifling the voice of Nigerians. “Protests are allowed in every democratic setting, encouraging freedom of expression,” Utomi remarked.
Utomi proposed several solutions to address Nigeria’s economic challenges, including reforms in the Nigerian National Petroleum Company Limited (NNPCL) and advising the government to reduce the cost of governance. He emphasized the importance of allowing Nigerians to work together to move the country forward and suggested that Nigeria underutilized its intellectual resources in governance.
