Rewane insists economy not satisfactory “in terms of practicality” as living standards not improved
By Jeph Ajobaju, Chief Copy Editor
Bismarck Rewane, an independent economist and Chief Executive Officer of Financial Derivatives Company, has reiterated that social and economic conditions are less than satisfactory “in practical terms” in the first two years of Bola Tinubu as President, regardless of the propaganda of sycophants.
Theoretically, Nigeria is on the right path but policies have not been satisfactory, he argued on Channels Television.
Rewane was reacting to Tinubu’s claim in his second anniversary broadcast on Thursday that despite challenges of rising cost of living, his administration has “made undeniable progress.”
Tinubu thumped his chest that inflation, which stood at 23.71 per cent in April, is on the decline and more than N6 trillion revenue was generated in the first quarter of 2025 alone.
On the positive side, Rewane stressed, Nigeria in the last two years has achieved a 3.6 per cent gross domestic product (GDP) growth, increased revenue, improved crude oil production, balance of trade, with external reserves at $38 billion.
But he insisted that none of these has shown that Nigerians are better off amid steep inflation, high government debt (N166.71 trillion), declining per capita and disposable income, and rising cost of living.
“Unfortunately, even though the economy as a whole is doing better, the impact and the distribution of wealth and opportunities are not corresponding with the increase in growth. The increase has not shown that people are better off,” Rewane said.
“It is difficult to score the administration. In terms of theory, Nigeria has been satisfactory regarding policy announcements. In terms of practicality, Nigeria is less than satisfactory in terms of delivery.
“The difficult part is translating these policies into tangible results that make people happier tomorrow than they were yesterday.”
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