Nigeria’s statistician-general debunks misconceptions on GDP, CPI rebasing

The Statistician-General of Nigeria, Adeyemi Adeniran, has urged civil society organisations (CSOs) to promote accurate information about the ongoing rebasing of Nigeria’s Gross Domestic Product (GDP) and Consumer Price Index (CPI). Speaking at a sensitisation workshop in Abuja, Adeniran emphasised the importance of dispelling misinformation as the rebased figures are set to be released this Friday.

Addressing the gathering, Adeniran highlighted the vital role of CSOs in bridging the gap between the National Bureau of Statistics (NBS) and grassroots communities. He described the exercise as foundational to enabling authorities to create meaningful plans to manage the economy.

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“As agents of change in society, you are duty-bound to disseminate correct information on the purpose of rebasing the economy. This process forms the bedrock for effective economic planning,” Adeniran said.

He reaffirmed the NBS’s commitment to transparency and collaboration, stating that the bureau would continue engaging with stakeholders to foster understanding of its activities and methodologies.

Adeniran took the opportunity to debunk claims that the NBS included illegal activities such as prostitution or kidnappings in its data. He attributed such misconceptions to misinterpretations during earlier engagements.

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“We will have more sessions to address misinformation, particularly regarding data collection on hidden activities,” Adeniran said. “For clarity, the data sourced from the NDLEA relates to the destruction of narcotics and constitutes only 0.01% of the overall data collected. This figure is negligible and does not impact the results, even if excluded.”

During the workshop, Adeniran also clarified that the rebasing exercise does not measure consumption or expenditure based on gender. Instead, it accounts for all consumers without discrimination, ensuring a balanced representation of economic realities.

Responding to inquiries about the delay in conducting the rebasing exercise, Adeniran explained that such exercises are ideally undertaken every five years. However, resource constraints have hindered many African nations, including Nigeria, from adhering to this timeline.

“This simultaneous rebasing of GDP and CPI is an extraordinary achievement, given the rigorous demands of the task,” Adeniran remarked.

The methodology for the rebasing process was presented by NBS officials Moses Waniko and Ayo Andrew Anthony. They noted that the exercise, which commenced in 2023, benefitted from collaboration with national and international bodies, including the Central Bank of Nigeria, the World Bank, and the International Monetary Fund.

As the release of the rebased figures approaches, the NBS has reiterated its commitment to providing accurate, reliable data to drive informed decision-making and economic development.