Nigeria’s average Consumer Price Index (CPI) which measures inflation rate, marginally declined to 23.2% in February 2025, from 24.1% rate recorded in January 2025, Bloomberg has reported.
But then, as of the time of filing this news report the National Bureau of Statistics (NBS) has not released the Consumer Price Index (CPI) report for the month on its website.
The Bureau, when it published the rebased CPI rate in January this year, stated that the rebased CPI rate reflected the current inflationary pressure and consumption patterns of consumers in the country.
Prior to the release of the rebased CPI rate for January 2025, the Statistician-General of the Federation and Chief Executive Officer of the NBS, Prince Adeyemi Adeniran, had at several public fora organized by the Bureau to enlighten the public that the rebasing GDP and CPI exercise allowed Nigeria to align with global best statistical reporting practices, providing a more factual picture of Nigeria’s economic landscape.
For instance, in his opening remarks at a joint workshop organized by the Nigerian Economic Summit Group (NESG) and the NBS on January 9 this year in Lagos to sensitize the public on the CPI and GDP rebasing benefits to the country, the Statistician-General emphasized the significance of the rebasing exercises as “foundational to informed policymaking, strategic planning, and effective governance; hence, it is one exercise that the NBS is conducting with significant importance and professionalism.”
He reiterated the importance of reliable statistics for design, planning and implementation of policies and programmes for national development, adding that the methodology employed by the NBS in the surveys aligns with global best practices.
Details Later….
