I don’t Understand How NBS Get Their Inflation Figures – Buhari
President Muhammadu Buhari has expressed doubt on the credibility and accuracy of the routine inflation figures released by the National Bureau of Statistics (NBS).
Speaking in the Channels TV interview aired on Wednesday night, the President said the way they do their calculations are strange to him, adding that he is not sure the calculations are correct.
Seun Okinbaloye of Channels TV had put this question to the President: “When you took over in 2015, our debt stock at the time was about 12 trillion, now it’s about 32 trillion. Inflation rate was about 9%, it’s now sitting at about 15%, unemployment rate was about 9.2%, it’s now at about 32.2%, exchange rate was about 197 to a dollar, now it’s way over 400 naira to a dollar. Now people would look back and say before you took over some of these indicators were fair, and now the figures are not friendly at all.”
The President said: “I am not sure how correct their calculations are but all I know is that we just have to allow people to get access to the land. We all have to go back to the farm.”
Speaking on job creation, the President has said that stopping smuggling and importation of all kinds of goods will encourage the country’s existing industries to function effectively thereby creating abundant job opportunities for millions of Nigerians.
He said closing the borders for about a year or two has created opportunities for youth.
“Nigeria closed its borders to strengthen agriculture and now we can farm what we eat and even export it to other countries,” he added.
President Buhari urged Nigerians to stop complaining about unemployment and exploit their individual potential, rather than waiting for the government to create jobs for them.
“We need a lot of resources to buy tractors and other farm implements. We divide the lands, clear them, and then distribute them to youth to farm. Our government will use its remaining time to focus more on agriculture,” the President said.