The Statistician-General of the Federation/CEO of the National Bureau of Statistics (NBS), Adeyemi Adeniran, has stated that the planned rebasing of Nigeria’s Consumer Price Index (CPI) and Gross Domestic Product (GDP) is being done without any ulterior motive or favour to any entity.
Speaking during a sensitisation workshop organised by BudgIT yesterday in Abuja, Adeniran said the revision of both economic indicators in the country was due to accurately reflect the current structure of the economy, incorporating new and emerging sectors, updating the consumption basket and defining data collection methods.
He added that the rebasing is being carried out concurrently due to the availability of funds to engage in the exercise, which, he said, should have been done every five years as recommended by international organisations.
“It is not carried out for any ulterior motives. It is not carried out to favour any entity or private organisation.
“It is carried out simply to measure accurately in line with the global best practices and standards, the economy, the structure, the consumption pattern of our citizens.”
