By Lucy Ogalue
The Independent Media and Policy Initiative (IMPI) has credited the combination of monetary, fiscal and structural reforms of President Bola Tinubu’s administration for the steady moderation in Nigeria’s inflation rate.
In a statement signed by its Chairman, Dr Omoniyi Akinsiju, the IMPI projected a further easing of the inflation to about 14 per cent by the end of the year.
Akinsiju said IMPI’s projection was based on a detailed Predictive Regression (PR) analysis of key macroeconomic indicators.
He said this included the Purchasing Managers’ Index (PMI) issued by the Central Bank of Nigeria (CBN) and the Consumer Price Index (CPI) released by the National Bureau of Statistics (NBS).
The think tank said that it initially projected inflation to decline to 17 per cent by the end of 2025 based on trend analysis.
Akinsiju said a stronger pattern of increased productivity and general price reduction from August however prompted a downward review of the forecast.
He said that the CBN Composite PMI rose to 55.4 index points in October, reflecting higher production and productivity across sectors.
According to him, this coincides with a sharper decline in headline inflation to 16.50 per cent in October from 18.02 per cent in September.
The IMPI boss said that the sustained rise in PMI was indicative of improved growth momentum and declining inflationary pressures.
He said that the headline inflation rate further dropped for the eighth consecutive month in November to 14.45 per cent, on the back of improved macroeconomic stability.
The group’s chairman expressed optimism that the disinflation trend would extend into 2026 if policy consistency was maintained.
Akinsiju cited government plans to deploy 2,000 tractors acquired from Belarus under a mechanisation service-provider model.
According to him, the initiative is expected to boost agricultural productivity, expand cultivated land and further ease price pressures.
He said this would thereby improve living conditions and lift more Nigerians out of poverty. (NAN) (www.nannews.ng)
Edited by Oluwafunke Ishola
