On Wednesday, Basil Abia, a policy analyst opined that the projections of the 2025 budget proposal presented by President Bola Tinubu at the National Assembly are unrealistic.

New Telegraph had earlier reported that during President Tinubu’s presentation to a joint session of the National Assembly, he said the budget aims to bring down inflation from its current 34.6 per cent to 15 per cent next year.

Reacting to the budget presentation during an interview with Channel Television Politics Today Program, Abia said that it is impossible to reduce inflation to 15 per cent next year when crude oil production is below two million barrels per day.

READ ALSO

“The projections are not realistic and the most important thing I think Nigerians should understand is what are the assumptions driving those projections.

“Now, if you say you want to do 15 per cent headline inflation rate on aggregate for 2025, the core drivers, you have to be able to show us that you are going to realistically drop down those drivers, reduce their efficacy and their frequency.

“Unfortunately, you cannot do a 15 per cent headline inflation rate when you are producing less than less than two million barrels per day.

“Now, I know they are projecting two million barrels per day, but it is impossible to do when you are currently producing 1.5 million barrels per day,” Abia said.