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The Chief Executive of Financial Derivatives and popular economist, Bismark Rewane said President Bola Ahmed Tinubuās 15 percent inflation target in 2025 is unrealistic and a mere aspiration.
Rewane disclosed on Channels Televisionās program on Thursday.
During Tinubuās N49.7 trillion budget presentation before the National Assembly on December 18, 2024, he expressed optimism that Nigeriaās inflation rate would decline from 34.60 percent to 15 percent in 2025.
However, Rewane said the Presidentās target isnāt realistic.
According to him, Nigeriaās inflation can decline to 25 or 27 percent, but the 15 percent is unrealistic.
āWell, 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.
āWe 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,ā he said.
When Tinubu was sworn in as Nigeriaās president in May 2023, Nigeriaās inflation rate was 22.41 percent, according to official numbers by the National Bureau of Statistics, NBS.
The inflation rate rose astronomically to 34.6 percent in November 2024, more than 12 percent higher, a development that economic experts have attributed to Tinubuās twin policies of petrol subsidy removal and unification of the foreign exchange rates.
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