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.

As the 2027 elections draw closer, Peter Obi, the 2023 presidential candidate of the Labour Party (LP), has stated that no merger agreement has been reached with the Peoples Democratic Party (PDP), the New Nigeria People’s Party (NNPP), or any other political party.

Speaking during a press conference in Abuja on Thursday morning, the former governor of Anambra State addressed pressing national issues and the future of Nigeria's political landscape. He emphasized that while there is no formal alliance yet, he called on all patriotic Nigerians in the political space to unite in 2027 to challenge the ruling All Progressives Congress (APC), accusing the party of gross mismanagement of the nation’s resources.

Obi also highlighted the deteriorating security situation in the country, lamenting the needless loss of lives due to banditry, terrorism, and kidnapping. He described the state of governance under President Bola Tinubu’s administration as plagued by corruption, excessive public spending, and unsustainable debt accumulation.

“In 2024 alone, public funds were recklessly squandered on frivolous foreign trips by government officials,” Obi remarked, stressing the need for accountability and prudent management of national resources.

Reflecting on the 2023 presidential election, Obi acknowledged the impressive numbers each candidate garnered. President Tinubu secured victory with 8,794,726 votes, winning 12 states and receiving significant support across several regions. Atiku Abubakar of the PDP, a six-time presidential contender, followed with 6,984,520 votes. Obi, contesting for the first time, achieved an unprecedented third-place finish with 6,101,533 votes. Rabiu Kwankwaso of the NNPP placed fourth, winning Kano State and amassing 1,496,687 votes.

Interestingly, Obi and Kwankwaso were both members of the PDP before the 2023 elections. However, irreconcilable differences led them to part ways with the party, opting to pursue their respective political ambitions through alternative platforms.

As the countdown to 2027 begins, Obi's call for unity among opposition forces signals a potential shift in Nigeria's political dynamics, with the Labour Party aiming to solidify its position as a formidable contender.