President Bola Ahmed Tinubu has unveiled a comprehensive economic strategy for 2025, aiming to reduce Nigeria’s inflation rate from its current 34.6% to 15% by the end of the year.
In his New Year message, Tinubu outlined the government’s ongoing efforts to stabilize the economy, noting key achievements such as declining fuel prices, three consecutive quarters of foreign trade surpluses, rising foreign reserves, and a stronger Naira.
“Economic indicators suggest a positive and encouraging outlook for our nation,” he said.
Despite these gains, Tinubu acknowledged persistent challenges, particularly the high cost of food and essential medicines, which burden many households. He emphasized the government’s commitment to addressing these issues through increased food production and local manufacturing of medical supplies.
“We are determined to reduce inflation significantly. With hard work and divine support, we will achieve this goal and provide relief to Nigerians,” he stated.
The president also announced plans to enhance access to credit for individuals and businesses to drive economic growth.
“In 2025, my administration will strengthen access to credit for individuals and critical sectors of the economy to boost national output,” Tinubu said, adding that a National Credit Guarantee Company would be launched by the second quarter of the year. This initiative, a collaboration between government institutions, private entities, and international partners, aims to expand financial access, particularly for underserved groups such as women and youth.
Tinubu highlighted the broader goals of his Renewed Hope Agenda, emphasizing reforms in agriculture, tax policies, and clean energy, including the adoption of compressed natural gas (CNG) and electric vehicles. He called for collaboration between federal, state, and local governments to harness emerging opportunities and improve living standards.
As part of efforts to foster unity and patriotism, Tinubu announced the forthcoming launch of a National Values Charter and a national orientation campaign. He also revealed plans for a Youth Conference in the first quarter of 2025 to engage young Nigerians in nation-building discussions.
“We will continue necessary reforms to promote sustainable growth and prosperity. I urge all Nigerians to stay focused, united, and committed to building the Nigeria of our dreams,” Tinubu said.
He concluded his address by expressing gratitude for the sacrifices of Nigerians over the past 19 months, reassuring them that these efforts will yield positive outcomes.
“Together, we will create the bright future we all desire,” Tinubu affirmed, wishing Nigerians a prosperous 2025.
Meanwhile, former Vice President Atiku Abubakar has called on Nigerians to hold their leaders accountable in 2025.
In a New Year statement, Atiku stressed the importance of vigilance in monitoring the actions of political leaders, urging citizens to actively participate in shaping the national dialogue.
“The dawn of 2025 offers a unique opportunity to redefine our collective future,” he said, encouraging Nigerians to ensure no leader wields unchecked power or abuses public trust.
Reflecting on the challenges of 2024, Atiku expressed gratitude to God for sustaining the nation through difficult times and called for unity in pursuing good governance. He urged Nigerians to resist attempts to divide the country along religious and ethnic lines, emphasizing the importance of collective prosperity.
“Our shared vigilance and resolve will ensure that power is exercised responsibly and for the benefit of all,” Atiku concluded.