- NBS Statistician-General Prince Adeyemi Adeniran assures Nigerians that GDP and CPI rebasing aims to provide accurate and up-to-date economic data
- BudgIT Country Director Gabriel Okeowo calls for transparency, highlighting the importance of data reflecting citizens’ actual economic experiences
The National Bureau of Statistics (NBS) has assured Nigerians that the ongoing rebasing of the Gross Domestic Product (GDP) and Consumer Price Index (CPI) is free of any hidden agenda or bias.
The Statistician-General of the Federation and NBS CEO, Prince Adeyemi Adeniran, emphasized that the exercise aims to provide accurate and up-to-date economic data.
Speaking at a sensitization workshop by BudgIT in Abuja, Adeniran explained that the revisions are necessary to reflect Nigeria’s current economic structure.
This includes incorporating emerging sectors, updating consumption patterns, and refining data collection methods.
Adeniran clarified, “This process has no ulterior motives. It does not aim to favour any organization or entity. We aim to align with global best practices by accurately capturing the economy’s structure and citizens’ consumption habits.
As Nigeria’s official data producer, we are committed to transparency and open dialogue with stakeholders, including civil society groups.”
He further noted that the exercise, which international organizations recommend conducting every five years, is now being carried out due to available funding.
Meanwhile, Gabriel Okeowo, the Country Director of BudgIT Nigeria, called for transparency and urged the data to align with Nigerians’ lived realities.
He addressed concerns over potential scepticism, saying, “Some believe the revision might be a strategy to portray the government positively. However, bad data cannot be hidden—it will always reflect in people’s daily experiences.”
The NBS reiterated its commitment to accuracy and integrity in data reporting, emphasizing that the rebasing exercise aims to enhance Nigeria’s economic planning and analysis.