‘Let’s keep deceiving ourselves’ – Rufai Oseni disputes NBS 15.43 percent inflation
Arise Television Anchor Questions Nigeria’s Latest Inflation Figures
Nigerian television anchor Rufai Oseni has raised concerns regarding the credibility of the country’s inflation statistics, specifically the 15.43 percent headline inflation rate reported for July 2026.
Oseni voiced his skepticism during an episode of The Morning Show on Tuesday, responding to data released by the National Bureau of Statistics (NBS) earlier that week. According to the NBS, the inflation rate decreased from 15.91 percent in June to 15.43 percent in July.
Despite this reported decline, Oseni challenged the accuracy of the figures, suggesting they do not align with the experiences of everyday consumers in the marketplace. He referred to an article from the Daily Post, commenting, “I don’t believe a lot of the data that comes out of this administration.”
Oseni highlighted concerns about the methodology used in compiling inflation data, citing a change in the base year that he claimed coincided with a period of elevated inflation rates. He also referenced a statement from the International Monetary Fund and World Bank, which indicated that approximately N8.8 trillion was spent on extra-budgetary items, a spending pattern he believes lacks transparency.
“We have yet to see a line-by-line breakdown of how those funds were utilized,” he asserted. “This ongoing lack of accountability prevents us from moving forward.”
Oseni also criticized recent government statements regarding the state of Nigeria’s oil refineries, noting that President Bola Tinubu had previously congratulated the Nigerian National Petroleum Corporation (NNPC) on operational refineries in 2024. He pointed out the contradiction in the president’s later comments about reviving refineries that had reportedly been in disrepair.
The anchor concluded with a warning about the potential consequences of ignoring discrepancies in data and governance: “You don’t have coherent data. We don’t have data. 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’s remarks come as discussions continue regarding the implications of Nigeria’s declining inflation rate on the cost of goods and services. Despite the NBS’s report of a decrease, many essential commodities continue to remain priced higher than before.
