Tinubu’s target to reduce Nigeria’s inflation rate to 15 percent by 2025 is a big scam -Bismark Rewane

By Divine Sam

Bismark Rewane, a prominent economist and Chief Executive of Financial Derivatives, has expressed skepticism about President Bola Tinubu’s target to reduce Nigeria’s inflation rate to 15 percent by 2025. Speaking on Channels Television, Rewane called the target unrealistic, describing it as more of an aspiration than a feasible goal. He suggested that a more likely scenario is that inflation might decrease to around 25 to 27 percent, which would still represent a significant reduction from the current rate of 34.6 percent, as of November 2024.

Rewane acknowledged that while it is positive to set ambitious targets, he believes a 15 percent inflation rate is overly optimistic, given the current economic situation. The surge in inflation over recent months, which has been linked to policies such as the removal of the petrol subsidy and the unification of foreign exchange rates, presents challenges to achieving such a target.

Tinubu’s administration aims to implement policies to address inflation, but Rewane’s assessment emphasizes that achieving a 15 percent inflation rate by 2025 would require more substantial changes than those currently in place.