Nigeria’s National Bureau of Statistics (NBS) is set to revise its inflation calculation methodology after acknowledging that last year’s rebasing exercise could make December’s year-on-year inflation rate appear artificially elevated.

The rebasing, the first in 15 years, was adopted in December 2024 as the new index reference point. Officials say this would distort December inflation figures by overstating price pressures without accurately capturing underlying market trends. The planned adjustment comes amid concerns from some analysts, who question whether the revised methodology will provide a more accurate picture of Nigeria’s true economic conditions.

Thami Ngubeni spoke to Shuaibu Idris, Managing Director at Time-Line Consult Limited.