Veteran broadcaster and former presidential spokesperson Reuben Abati has cast doubt on the recent inflation report released by the National Bureau of Statistics (NBS), saying the figures do not reflect the reality in Nigerian markets.

Speaking on Arise Television’s Morning Show, Abati challenged the credibility of the reported inflation decline to 15.15%, insisting that Nigerians have not experienced any significant change in the prices of goods and everyday essentials.

He argued that while economists often claim inflation data takes time to influence living standards, the delay in this case has been unusually long, noting that a true sign of progress would be a clear drop in food inflation.

Abati said:
“This inflation story they keep talking about — 15.15% as of December — appears to be based on some creative adjustments. They say there is rebasing and that the methodology has changed.

“Now, the IMF resident representative says this new methodology will eventually deliver real improvements in Nigerians’ cost of living.

“According to the NBS, inflation has been coming down for several months. But we have not seen any evidence of that in actual living expenses.

“Economists say these things take time, but this one is taking too long. We will only believe the Consumer Price Index (CPI) figures when food inflation begins to fall. That is why manufacturers are also worried.”

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