Financial Derivatives CEO and renowned economist, Bismark Rewane, has dismissed President Bola Ahmed Tinubu’s 2025 inflation target of 15% as unrealistic and merely aspirational.
Speaking on Channels Television on Thursday, Rewane noted that while Nigeria’s inflation rate could drop to 25% or 27%, achieving 15% is improbable.
Waffi TV reports that during Tinubu’s ₦49.7 trillion budget presentation to the National Assembly on December 18, 2024, the President expressed optimism about reducing inflation from 34.6% to 15% by 2025. However, Rewane maintained that this goal lacks feasibility.
“Well, the target is an aspiration; the reality that we think is inflation could reduce from approximately 35 percent to somewhere like 27 percent or 25 percent, but a 15% rate on inflation is very bullish and aspirational, but we are free to have our aspirations.
“We deal in the world of reality, and in the world of reality, we see more of 27% to 25%. I would rather bet on that than bet on much more optimistic scenarios,” he said.
When President Tinubu took office in May 2023, Nigeria’s inflation rate stood at 22.41%, according to official data from the National Bureau of Statistics (NBS).
By November 2024, the inflation rate had surged to 34.6%, a jump of over 12%, which economic experts attribute to Tinubu’s dual policies of removing the petrol subsidy and unifying foreign exchange rates.
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