Nigerians’ll reap economic gains of Tinubu’s reforms in Q1 2024 – Rewane

The Chief Executive Officer, Financial Derivatives Company Limited, Bismarck Rewane has said that the gains of the present reforms in the economy by President Bola Tinubu will manifest in the first quarter of 2024.

Rewane said this on Saturday, while speaking on Arise News TV programme, even as he said that there will be more pains this year as a result of the reforms being undertaken now.

He said: “The bad news is that there is pain and there will be more pain in the short run but the good news is that there will be gains in the first quarter of 2024.

“I used to think that you will get that sooner, but you will need to have your supplementary budget and recycle money into the system.”

Commenting on the exchange rate, Rewane said: “What system is being used to keep your exchange rate from being misaligned fundamentally, I think that’s the key issue.

“The exchange rate is misaligned because there are certain things that are being done that affect it. For example, you are holding some variables constants while allowing some variables to change.”

Nigerians have been faced with economic challenges occasioned by the removal of fuel subsidy and the increase in the exchange rate since Tinubu became president on May 29.