Popular Nigerian economist and Chief Executive of Economic Associates (EA), Ayo Teriba, says it is possible to bring Nigeria’s inflation down to five percent in 2025 if the government can successfully attract $50 billion to $1 billion in foreign direct investment.
Teriba disclosed this recently while speaking on Arise Television’s Good Morning Show.
He stressed that $50 billion FDI would strengthen the naira, stabilise exchange rates, and positively influence the country’s macroeconomic indices, which currently exacerbate its inflation woes.
The economist argued that bold reforms aimed at attracting substantial FDI would be transformative.
“Five percent inflation is possible next year. Look at what happened in Argentina. Economists don’t prophesy but make conditional statements.
“If the president can complement the efforts on tax and finance reforms with an investment act to attract $50bn FDI within the next year, exchange rates will stabilise, and inflation will drop to single digits,” Teriba explained.
Recall that knocks and kudos trailed President Bola Ahmed’s 49.7 trillion 2025 budget presentation to the National Assembly, where he fixed expected inflation at 15 percent and the exchange rate at N1,500 per dollar.
DAILY POST reports that Nigeria’s November inflation rate stands at 34.60 percent, while the exchange rate closed at N1,540.45 per dollar on Tuesday at the official market.
Written By Ogaga Ariemu