Rewane Warns: Nigeria On The Brink Of Economic Squeeze As Petrol Prices Rise

Rewane Warns: Nigeria On The Brink Of Economic Squeeze As Petrol Prices Rise

Renowned economist and Managing Director of Financial Derivatives Company Limited, Bismarck Rewane, has raised alarm over the likely inflationary impact of the recent petrol price increase in Nigeria……… READ MORE

With the nation’s inflation rate currently at 23.18%, Rewane cautioned that the full economic effects of the fuel hike are yet to be felt but could surface in the near term.

Speaking during an appearance on Channels Television’s Business Morning on Tuesday, Rewane explained, “There might be an increase in the rate of inflation because of the rise in petrol prices, but so far, we haven’t seen a corresponding surge in transport fares.”

However, he noted that food prices are already climbing—an issue compounded by the onset of the planting season. This, he warned, will further squeeze household budgets and heighten pressure on consumers.

Rewane also touched on external economic factors, particularly the lingering effects of trade tensions sparked by former U.S. President Donald Trump’s tariff policies. He stated, “The United States disrupted global markets with its policy initiatives. I believe some of these measures will be reversed as their impacts become more widespread.”

He added that with the 2026 U.S. midterm elections on the horizon, the American political climate may force a rethink of current trade policies.

Despite growing concerns, Rewane urged Nigerians to stay calm, reassuring that the market volatility is likely to be short-term. “We are in a political system,