As we stand on the threshold of 2025, we are compelled to take stock across both personal and societal dimensions to navigate the year ahead. 2024 was marked by unprecedented challenges and transformative shifts, but what does a fresh start truly entail for individuals and society at large?
The New Year signifies more than merely a transition in the calendar; it embodies a profound symbol of hope, renewal, and opportunity. As we contemplate the challenges and successes of 2024, we are reminded of the significance of gratitude and the opportunity to start over.
Recent surveys reveal a complex tapestry of expectations for 2025. A global study by Ipsos indicates that 79% of respondents anticipate that prices will increase faster than incomes, reflecting economic concerns. Additionally, 80% expect rising global temperatures and 49% believe in the possibility of achieving gender pay equality.
Advancements in artificial intelligence (AI) are poised to significantly influence various sectors. Predictions suggest that AI development may hit a plateau, yet new models refining responses for reasoned results hold promise. The integration of AI into daily life continues, though transformative “killer apps” remain elusive.
A Global Outlook
The International Monetary Fund (IMF) forecasts a steady global growth rate of 3.2% for 2025, mirroring 2024 figures. Advanced economies are expected to see a slight uptick, while emerging markets may experience a modest slowdown.
The United States is projected to achieve a GDP growth of 2.5% in 2025, outperforming consensus estimates. In contrast, the euro area is anticipated to expand by 0.8%, reflecting regional disparities. Persistent inflation and ongoing trade disputes, particularly between major economies like the U.S. and China, continue to pose risks to global economic stability.
On the geopolitical landscape, the 2024 electoral cycle brought significant changes, with elections in 70 countries leading to notable political upheavals and democratic regression. This has resulted in increased uncertainty and potential policy shifts impacting global relations. Elevated geopolitical risks, driven by economic sovereignty movements and global rivalries, are expected to persist.
2025 presents a blend of opportunities and challenges. Economic growth is expected to continue, albeit with regional disparities and potential headwinds from geopolitical tensions and inflationary pressures. Technological advancements offer avenues for progress, while political shifts necessitate adaptability from governments and businesses alike.
As a nation, a fresh start is an urgent call to rethink our economic and fiscal policies to ensure that government works for the people rather than vice versa. We are at the cusp of history and the next few months will determine which road Nigeria will take.
Nigeria at the Brink – Greatness or Obscurity?
2025 particularly offers an opportunity for Nigeria, a nation rich in potential and resilience but still dancing at the brink of failure and ignominy, to course correct. 2024 held significant challenges, including economic reforms that, while necessary was poorly implemented leading to intense hardships for many citizens.
Sustaining recent fiscal reforms such as the removal of petrol subsidies and the unification of exchange rates aimed to stabilize the economy can attract foreign investment. However, poor implementation resulted in increased living costs and inflation eliciting protests and public outcries from the people. This demonstrates a collective desire for better governance to hold elected officials accountable to deliver improved living conditions.
There must be social safety nets to ease the impact of these policies on ordinary Nigerians. Countries that have implemented tight economic reforms have done so with critical infrastructure like education, healthcare, power and transportation in place. They have also prioritised social safety nets to cater for the poor and those at the margins of society. Government cannot expect the people to bear the burden alone while elected officials and public servants coast around in luxury – charity must begin first at home with the executive and legislature cutting down the cost of governance.
Nigeria stands at a pivotal juncture as it approaches 2025, with the potential to make significant strides in economic and social development in several key areas including implementing the National Development Plan (NDP) 2021-2025. The NDP is a follow on to the Economic Recovery and Growth Plan (ERGP) and the groundwork for the Nigeria Agenda 2050. It aims to generate 21 million full-time jobs and lift 35 million people out of poverty by 2025 emphasizing economic diversification, investment in infrastructure, security, and good governance.
Implementing the Renewable Energy Master Plan, which aims to increase renewable energy’s contribution to 10% of total energy consumption by 2025, can promote sustainable development and reduce dependence on fossil fuels. Similarly, improving governance and ensuring security are crucial for creating a conducive environment for development. Efforts should focus on transparency, accountability, and combating corruption.
Finally, government must focus on fostering human capital development by investing in education and healthcare that can enhance the productivity and well-being of the population for long-term economic growth towards a more prosperous and equitable society.
This is 2025, a quarter of a century after the Vision 2020. Nigeria no longer has the luxury of time or resources to get her acts together. Its crunch time and we have lost as many chances as possible that the universe may give to any country to fix its own mess. Government and the people must work together for sustainable growth and development outcomes that works for all.
All Hands on Deck
On a personal level, the concept of a fresh start in 2025 is an invitation to set meaningful goals and embrace growth opportunities. The first step is to define one’s vision by reflecting on what a successful 2025 looks like across various aspects of life, including career, relationships, health, and personal growth.
Secondly, set Specific, Measurable, Achievable, Relevant, and Time-bound (SMART) goals to help increase the likelihood of success. Then, create an action plan by breaking down each goal into actionable steps to make large objectives more manageable and less overwhelming.
Next is to seek support and accountability by sharing one’s goals with trusted friends or mentors who can provide encouragement and accountability. Finally, stay flexible and adaptable. Because life is unpredictable, we need to be prepared to adjust our goals as circumstances change, maintaining resilience in the face of challenges.
It may sound like a cliche to ask citizens to do more in 2025 considering we have and continue to sacrifice our time, resources and even lives for our country, but we cannot give up now. At an individual level, this is a call to engage in community service by volunteering one’s time and skills to local initiatives aimed at improving our communities.
As advocates for change, we can shun corruption, impunity and indiscipline, use our voices to support policies and reforms that promote social justice and foster economic stability. We can support local business to stimulate the economy by patronizing local entrepreneurs and encouraging sustainable practices. We must keep abreast about national issues and share knowledge to foster a more informed and active citizenry.
Finally, and most importantly, we can promote unity and inclusion by embracing diversity and working towards bridging societal divides, fostering a sense of national cohesion. It is time to drop the ethnic, religious and political rhetorics that pitch us against each other while those at the helm of affairs rob us blind.
Happy New Year!
