Economist optimistic about 27% inflation target, says Tinubu’s 15% aspirational

The Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has described President Bola Tinubu’s 15% inflation target for 2025 as “aspirational” and “bullish.”

The economist stated this on Channels Television’s Business Morning segment of Sunrise Daily breakfast program on Thursday.

During the 2025 ₦49.7tn budget presentation before the National Assembly on December 18, 2024, Tinubu expressed optimism that Nigeria’s inflation rate would decline from 34.6% to 15% in 2025.

However, Rewane said the President’s target is not realistic. “Well, the target is an aspiration; the reality that we think is inflation could reduce from approximately 35% to somewhere like 27% or 25%, 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 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 wizards have attributed to Tinubu’s twin policies of petrol subsidy removal and unification of the forex rates.