csrreporters 
The National Bureau of Statistics has announced plans to “normalise” Nigeria’s December 2025 inflation data following expectations of a sharp spike in the Consumer Price Index, a move that has sparked debate among analysts and data users.
The disclosure was made on Monday during a virtual stakeholder engagement jointly convened by the NBS and the Nigerian Economic Summit Group, where the statistics agency explained that the projected surge in inflation is driven largely by technical base effects linked to the recent rebasing of the CPI, rather than any deterioration in underlying economic fundamentals.
Misleading inflation signals at this stage could undermine hard-won macroeconomic gains,” he warned, noting that credible CPI data underpins monetary policy calibration, fiscal planning, wage negotiations, and investment decisions.
Providing technical context, the Director of Price Statistics at the NBS, Dr Ayo Anthony, outlined the methodological challenges arising from the rebasing exercise. He noted that the CPI had not been rebased since 2009, despite global best practice recommending rebasing every five years.
Over the 15 year gap, Anthony said consumption patterns changed significantly, leading to the addition of over 400 new products and the removal of more than 200 items from the CPI basket. The rebased index now comprises 934 products across 13 COICOP divisions.
Without adjustment, he warned, the December 2025 inflation figure could appear significantly overstated, reflecting statistical arithmetic rather than real inflationary pressures.
For transparency and accountability, we are engaging stakeholders on the statistical solution, which aligns with global best practice,” he added.
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