Nigeria’s inflation rate exaggerated under Tinubu’s watch, says APC national secretary

Mr Basiru said this when confronted with NBS statistics showing inflation has spiked from 23 per cent to 34 per cent since Mr Tinubu assumed office.

Ahmed Oluwasanjo • July 25, 2024

Senator Ajibola Basiru [Photo credit: Ajibola Basiru]

The national secretary of the All Progressive Congress, Surajudeen Ajibola Basiru, says inflation is not as high as reported by the National Bureau of Statistics.

Mr Basiru made this statement when confronted with NBS statistics showing inflation has spiked from 23 per cent to 34 per cent since Mr Tinubu assumed office.

“I don’t agree with that statistics,” Mr Basiru told Channels TV on Wednesday night. “I know that there are inflation challenges, but they are not up to that level.”

Nigeria’s headline inflation surged to 34.19 per cent in June 2024, according to NBS. The average retail price of a litre of petrol increased from N545.83 in June 2023 to N750.17 in June 2024.

Mr Basiru’s statement comes as Nigerians grapple with the high costs of food, commodities, and services.

Both domestic and international scrutiny intensifies over the efficacy of Mr Tinubu’s economic policies amidst deteriorating economic conditions.

Mr Tinubu’s economic policies are disjointed, pushing tens of millions into misery and would not end Nigerians’ hardships, Financial Times said in an editorial piece accessing his government’s 15 months in office.

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