The National Bureau of Statistics (NBS) has disclosed that there was no any form of government interference in the processes and results of the rebased Consumer Price Index (CPI).
Statistician-General of the Federation and Chief Executive Officer of NBS, Prince Adeyemi Adeniran, disclosed this while fielding questions from journalists shortly after releasing the CPI rebase results on Tuesday.
“I want to categorically said that in all stages and processes from beginning to finish, there is no government interference in any aspect of the rebase exercise. In fact, what we got from the government was encouragement and the fact that we need to engage stakeholders as many as we can, and also ensure that we expose the methodology to the general public, experts and stakeholders to make their inputs and comments,” he said.
TheFact Daily had reported that the rebased All Items index in January 2025 was 110.68, while the Headline inflation rate on a year-on-year basis stood at 24.48% in January 2025. This means that the general prices of goods and services in Nigeria increased by 24.48% compared to January 2024.
The rebased Food Index in January 2025 was 110.33. while the Food Inflation rate on a year-on-year basis stood at 26.08% in January 2025. This also means that the general prices of Food items in Nigeria increased by 26.08 compared to January 2024.
The Bureau announced that the rebased Urban all-items Index in January 2025 was 111.19, while the Urban inflation rate on a year-on-year basis stood at 26.09% in January 2025. Indicating that the general prices of goods and services in Urban areas increased by 26.09% compared to January 2024.
Meanwhile, the rebased Rural all-items Index in January 2025 was 109.47, while the Rural inflation rate on a year-on-year basis stood at 22.15% in January 2025. Indicating that the general prices of goods and services in Rural areas increased by 22.15% compared to January 2024.
The NBS boss, while announcing the inclusion of some Special Indices such as Farm Produce Index, Energy Index, Services Index, Goods Index, and Imported Food Index, noted that the inflation rates produced by the new Special Indices for 2025 were not year-on-year rates as the headline rates.
He informed that because the indices are new, the year- on-year rates would commence from January 2026, while the month-on-month rates would commence in February 2025.
“The rates being reported here are January compared to the base year, which is an average of prices in 2024. For the Special Indices – January compared to the base year: Index Inflation Rate (%) Farm produce 10.50%, Energy 8.9%, Services 10.41%, Goods 10.79%, and Imported Food 11.47%,” he said.
Prince Adeniran noted in conducting the exercise which should typically be conducted every five years, but had not been done for over ten years, the Bureau was working on ensuring that the process was rigorous, comprehensive, and inclusive, with adequate sensitization and engagement of stakeholders at every level possible.
He also noted that the rebasing process also allows Statistical Offices to introduce methodological enhancements to their computation procedures and align with global best practices.
Under this process, he said, the NBS is not only bringing the base year closer to the current period, from 2009 to 2024, but has also introduced some critical methodology changes to improve the computation processes and quality of the estimates.
Speaking earlier, the Bureau’s Director of Communication and Public Relations, Mr. Ichedi, Sunday said the event demonstrates the NBS’ commitment to transparency and accountability in the dissemination of statistical information.
He said the event was an opportunity for NBS to engage with the media and provide insights into its statistical processes and methodologies for onward dissemination to the public.
The event marks the climax of a comprehensive and rigorous effort by the NBS to adequately measure the current level of price changes experienced by consumers of goods and services within the economy.
