Bismarck Rewane, Managing Director of Financial Derivatives Company Limited, has described President Bola Tinubu's 15% inflation target for 2025 as "aspirational" and "bullish." Speaking during a monitored program on Thursday, Rewane expressed skepticism about the feasibility of the target, emphasizing the gap between aspirations and economic realities.

During the presentation of the 2025 ₦49.7 trillion budget before the National Assembly on December 18, 2024, Tinubu projected a significant decline in Nigeria's inflation rate from 34.6% to 15% by the end of 2025. However, Rewane questioned the realism of this forecast, suggesting a more moderate decline is likely.

"The target is an aspiration; the reality, as we see it, is that inflation could drop from approximately 35% to somewhere between 27% and 25%. A 15% inflation rate is very bullish and aspirational, but aspirations are fine to have," Rewane said. "We operate in the realm of reality, and in reality, 27% to 25% seems more achievable. I’d rather bet on that than overly optimistic scenarios."

At the start of Tinubu’s presidency in May 2023, Nigeria’s inflation rate stood at 22.41%, according to the National Bureau of Statistics (NBS). By November 2024, it had surged to 34.6%, marking a sharp increase of over 12%. Experts attribute this spike to the economic impacts of Tinubu's twin policies: the removal of petrol subsidies and the unification of forex rates.

Rewane’s analysis underscores the challenges of achieving significant inflation reduction in a volatile economic environment, highlighting the need for realistic targets amidst bold aspirations.