President Bola Ahmed Tinubu has outlined an ambitious economic agenda aimed at reducing Nigeria’s inflation rate from the current 34.6% to 15% by the end of 2025. In his New Year message to Nigerians, the president emphasized the government’s ongoing efforts to stabilize the economy and provide relief to citizens.
“Economic indicators point to a positive and encouraging outlook for our nation,” Tinubu stated. He highlighted key achievements, including a gradual decrease in fuel prices, three consecutive quarters of foreign trade surpluses, rising foreign reserves, and a stronger Naira against the US dollar.
Despite these strides, the president acknowledged persistent challenges, particularly the high cost of food and essential drugs, which continue to burden households. To address these issues, he pledged to intensify efforts in 2025 by boosting local food production and manufacturing essential medical supplies.
“We are resolute in our ambition to reduce inflation from its current high of 34.6% to 15%. With diligent work and God’s help, we will achieve this goal and provide relief to all our people,” he said.
Additionally, Tinubu announced plans to expand access to credit for individuals and businesses to stimulate economic output, underscoring the administration’s commitment to fostering growth and economic resilience.
