We’re resolute in our ambition to reduce inflation to 15% in 2025 – Tinubu assures Nigerians
…vows to boost food production, promote local manufacturing of drugs
By Ismail Azeez, Osogbo
President Bola Ahmed Tinubu has said his administration is committed to intensifying efforts to boost Nigeria’s economy to improve the lives of the citizens in 2025.
Tinubu disclosed this in his new year message to Nigerians, on Wednesday, said that the government will do everything possible to boost food production and promoting local manufacturing of essential drugs and other medical supplies to reduce cost of production in the country.
He said the present administration plans to reduce inflation from 34.6% to 15% in order to provide relief to all Nigerians.
Tinubu further stated the government will continue to embark on necessary reforms to foster sustainable growth and prosperity for our nation.
He further stated that the federal government will establish the National Credit Guarantee Company, which said will start operations by the end of the second quarter.
According to him, In 2025, our government is committed to intensifying efforts to lower these costs by boosting food production and promoting local manufacturing of essential drugs and other 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.
“In this new year, my administration will further consolidate and increase access to credit for individuals and critical sectors of the economy to boost national economic output.
“To achieve this, the federal government will establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises.
“The Company—expected to start operations before the end of the second quarter—is a partnership of government institutions, such as the Bank of Industry, Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Agency, and Ministry of Finance Incorporated, the private sector, and multilateral institutions.
“This initiative will strengthen the confidence of the financial system, expand credit access, and support under-served groups such as women and youth. It will drive growth, re-industrialisation, and better living standards for our people.
“On a personal note, thank you for placing your confidence in me as your president. Your trust humbles me, and I promise to continue serving you diligently and wholeheartedly.
“We will continue to embark on necessary reforms to foster sustainable growth and prosperity for our nation.
“I seek your cooperation and collaboration at all times as we pursue our goal of a one trillion-dollar economy. Let us stay focused and united.
“We are on the right path to building a great Nigeria that will work for everyone. Let us not get distracted by a segment of our population that still sees things through the prisms of politics, ethnicity, region, and religion” he said.
