The Petroleum and Natural Gas Senior Staff Association of Nigeria PENGASSAN has faulted the current inflation measurement yardstick, arguing that it does not accurately reflect worsening poverty levels across the country.
PENGASSAN leaders said while official data may show moderating inflation rates, lived experiences of workers tell a different story. According to the union, rising food prices, transport costs, housing expenses, and school fees continue to stretch household incomes beyond sustainable levels.
The association contends that the Consumer Price Index used in calculating inflation does not sufficiently capture informal sector realities, rural price variations, and fluctuating energy costs. It argued that headline figures may understate the real economic pressure on low and middle income earners.
Labour economists note that inflation measurement depends on a basket of goods and services that may not reflect rapid changes in consumption patterns. When essential commodities rise sharply, poverty deepens even if aggregate indicators suggest moderation.
PENGASSAN also warned that wage growth has not kept pace with cost of living increases. The union called for policy adjustments, including improved social safety nets and stronger wage review mechanisms.
Analysts say poverty levels are influenced not only by inflation but also by unemployment, underemployment, and exchange rate volatility. With energy sector reforms ongoing, workers remain concerned about fuel prices and utility tariffs.
Economic policy experts believe recalibrating measurement tools could improve credibility and guide targeted interventions. The union urged government agencies to collaborate with labour groups to develop more transparent data systems.
Ultimately, PENGASSAN maintains that statistical moderation must translate into real household relief. Until disposable incomes recover and essential goods become affordable, claims of easing inflation may face skepticism from the working population.
