RUFAI OSENI QUESTIONS NBS’ 15.43% INFLATION FIGURE, SAYS ‘LET’S KEEP DECEIVING OURSELVES’
Read Time:1 Minute, 57 Second
By:Tajudeen Aminat
Arise Television anchor, Rufai Oseni, has challenged the credibility of Nigeria’s latest inflation figures, questioning the reported decline in headline inflation to 15.43 per cent in July 2026.
Oseni made the remarks on The Morning Show on Tuesday while reacting to the latest Consumer Price Index and inflation report released by the National Bureau of Statistics.
The NBS reported that headline inflation dropped to 15.43 per cent in July from 15.91 per cent in June.
However, Oseni argued that the figures did not accurately reflect the economic realities confronting Nigerians, particularly the high cost of goods and services in markets.
Expressing scepticism about data released by the government, the broadcaster said he had concerns about the credibility of official statistics under the current administration.
Oseni also criticised the government over what he described as a lack of transparency and accountability in public spending, citing reports of N8.8tn in extra-budgetary expenditure.
He questioned why Nigerians had yet to receive a detailed breakdown of how the funds were spent, arguing that the absence of such information undermined public confidence in government figures.
The television anchor further questioned the methodology used in calculating the inflation rate, particularly the impact of changes to the base year on the reported figures.
“You know, we are saying the inflation rate is 15.4-something. Have prices gone back in the market to the prices you used to have before?” Oseni asked.
He maintained that a reduction in the inflation rate did not necessarily mean that the prices of goods and services had returned to previous levels.
Oseni also raised concerns about what he described as inconsistencies in government claims and policies, arguing that poor accountability remained a major obstacle to national development.
“Okay, let’s keep deceiving ourselves. You see this charade of deceit, this dance of deceit. One day, we will come to the market square and clap for ourselves. Let the deceit continue,” he said.
His comments come amid ongoing debate over whether Nigeria’s declining inflation rate is translating into meaningful relief for households.
Although the NBS reported a month-on-month decline in headline inflation, many essential commodities remain considerably more expensive than they were before, meaning that lower inflation reflects a slower rate of price increases rather than an overall fall in prices.
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