Uncertainty over inflation data as NBS website hack lingers

The National Bureau of Statistics, Nigeria’s key agency for data dissemination, is still reeling from a cyberattack on its official website, which occurred on December 18, 2024.

As of January 14, 2025, the website remains inaccessible, raising doubts over the timely release of its much-anticipated Consumer Price Index and inflation data, typically published on the 15th of each month.

The hack came just days after the NBS released its controversial Crime Experience and Security Perception Survey, which revealed that Nigerians paid an estimated N2.3tn in ransom within a year.

The sensitive nature of the report has fueled speculation about a possible link between the survey’s release and the cyberattack.

Following the breach, the NBS took to its official X (formerly Twitter) account to confirm the incident, assuring the public that efforts were underway to restore the website.

The agency advised users to disregard any information from the compromised platform until the situation was resolved.

Despite these assurances, the prolonged downtime has disrupted access to critical economic data, sparking concern among policymakers, analysts, and investors who rely heavily on the bureau’s statistics for decision-making.

In a related development, the NBS has announced plans to introduce three new indexes in its monthly CPI.

The new additions are expected to be part of the rebased CPI.

The continued inaccessibility of the NBS website, however, casts doubt on how this critical report will be disseminated.

NBS spokesperson Joel Ichedi said the delay in restoring its website was due to a thorough investigation of the incident and the extended holiday period, which has hindered timely recovery efforts.

He assured the site will soon be accessible to Nigerians as efforts are ongoing to restore it.

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