The Chief Executive of Financial Derivatives and popular economist, Bismark Rewane has said the 15% targeted inflation for Nigerians in 2025 is unrealistic.
President Bola Ahmed Tinubu had presented N49.7 trillion budget before the National Assembly on December 18, 2024, with optimism that Nigeria’s inflation rate would decline from 34.60% to 15% in 2025.
Rewane said the President’s target isn’t realistic has Nigeria’s inflation can decline to 25 or 27%, but the 15% is unrealistic.
“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 inspirational, 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.”
When Tinubu was sworn in as Nigeria’s president in May 2023, Nigeria’s inflation rate was 22.41%, according to official numbers by the National Bureau of Statistics, NBS.
The inflation rate rose astronomically to 34.6% in November 2024, more than 12% higher, a development that economic experts have attributed to Tinubu’s twin policies of petrol subsidy removal and unification of the foreign exchange rates.
