Mr. Olayinka Odutola of the AERMP predicts a declining inflation rate and economic growth for Nigeria by 2025. He attributes this to government reforms, which have positively impacted food prices and power generation. To mitigate the effects of US tariff hikes, he emphasizes reducing import dependency and supporting small businesses.
On March 16, 2025, the Association of Enterprise Risk Management Professionals (AERMP) projected that Nigeria will experience a significant economic boom and a declining inflation rate by 2025, despite existing global tariff conflicts. According to Mr. Olayinka Odutola, the Director General/Chief Executive Officer of AERMP, ongoing reforms under President Bola Tinubu’s administration are yielding positive outcomes, including reductions in food prices and enhancements in power generation.
Mr. Odutola highlighted that traditional price surges during Ramadan have been mitigated due to government actions against food hoarding. This significant decline in food prices is an encouraging sign. He also recognized the increased power output from the Transmission Company of Nigeria as pivotal for industrial success and overall economic health.
The AERMP Director-General emphasized the need for collaborative support to harness Nigeria’s economic potential while counteracting the effects of rising US tariffs through reduced import dependence. He proposed a focus on bolstering local production and addressing infrastructural deficits and power generation challenges.
Mr. Odutola also stressed the importance of nurturing small businesses, which he views as the lifeblood of the economy. He commended efforts to provide low interest loans, suggesting that financial institutions must increase their support to accommodate small enterprises better. He advocated for the registration of small businesses for improved statistical insights to drive growth effectively.
Lastly, he acknowledged reforms in the foreign exchange sector aimed at combating fraud and expressed appreciation for advancements in the oil and gas industry. His recommendations included promoting local production and exploring alternative energy solutions to navigate economic challenges effectively.
In summary, Mr. Olayinka Odutola’s insights highlight a positive outlook for Nigeria’s economy, driven by governmental reforms and strategic focus on local production and small businesses. By addressing infrastructural challenges and reducing import dependence, Nigeria is poised to improve its economic resilience and relevance on the international stage.
Original Source: nannews.ng
