President Bola Ahmed Tinubu has outlined an ambitious economic plan to tackle inflation, promising to reduce the country’s current rate of 34.6 per cent to 15 per cent by the end of 2025.
This is contained in his New Year message to Nigerians to usher in the New Year.
Tinubu highlighted the government’s efforts to stabilise the economy.
“Economic indicators point to a positive and encouraging outlook for our nation,” he said.
“Fuel prices have gradually decreased, and we recorded foreign trade surpluses in three consecutive quarters. Foreign reserves have risen, and the Naira has strengthened against the US dollar, bringing greater stability.”
Despite these achievements, the president admitted that challenges remain, particularly in the cost of food and essential drugs, which continues to strain many households.
According to him, in 2025, the government will intensify efforts to lower these costs through increased food production and local manufacturing of essential medical supplies.
“We are resolute in our ambition to reduce inflation from its current high of 34.6 per cent to 15 per cent. With diligent work and God’s help, we will achieve this goal and provide relief to all our people,” Tinubu s aid.
The president also announced plans to consolidate access to credit for individuals and businesses to stimulate economic output.
“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,” he said.
To support this initiative, Tinubu revealed plan to launch the National Credit Guarantee Company, a significant partnership between government institutions, private entities, and multilateral organisations.
“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,” he explained.
The initiative aims to expand credit access and strengthen financial systems, especially for underserved groups.
“This initiative will strengthen the confidence of the financial system, expand credit access, and support under-served groups such as women and youth,” the president said.
“It will drive growth, re-industrialisation, and better living standards for our people.”
President Tinubu urged Nigerians to work together to overcome the present challenges and build a stronger nation.
“We will continue to embark on necessary reforms to foster sustainable growth and prosperity for our nation,” he said. “I always seek your cooperation and collaboration as we pursue our goal of a one trillion-dollar economy. Let us stay focused and united.”
While outlining the government’s ambitious goals, Tinubu reminded Nigerians of the importance of patriotism and shared values.
“Citizens’ moral rectitude and faith in our country are fundamental to the success of the Renewed Hope Agenda,” he said.
He announced the forthcoming launch of the National Values Charter and a national orientation campaign to promote patriotism and foster trust between the government and citizens.
“The Renewed Hope Agenda can only succeed through shared values, mutual commitment, and unconditional love for our country,” the president stressed.
To amplify youth participation, a Youth Conference will also be convened early this year, with representatives from diverse backgrounds contributing to nation-building discussions.
“The Youth Confab will begin in the first quarter of 2025, a testament to our commitment to youth inclusiveness and investment as nation-builders. The Ministry of Youth will soon announce the modalities for selecting the conference’s representatives from our diverse, youthful population,” he added.
The president lauded governors who embraced reforms in agriculture, tax policies, and clean energy, including adopting Compressed Natural Gas (CNG) and electric vehicles.
He called on all governors and local council chairpersons to collaborate with the federal government to harness emerging opportunities.
Tinubu closed his message with encouragement, emphasising his belief in Nigeria’s potential.
“Let me use this New Year’s message to urge our governors and local council chairpersons to work closely with the central government to seize emerging opportunities in agriculture, livestock, and tax reforms and move our nation forward,” he said.
He reassured all Nigerians: “Your sacrifices have not been in vain over the past 19 months. I assure you they will not be in vain even in the months ahead. Together, let us stay the course of nation-building. The New Year will bring us closer to the bright future we all desire and the Nigeria of our dreams.”
Wishing Nigerians a prosperous 2025, the president concluded with a rallying call for unity and collective action.
Let’s hold our leaders accountable in 2025 – Atiku
Former Vice President Atiku Abubakar has urged Nigerians to hold their leaders accountable in 2025.
In a personally signed statement, Atiku declared that this New Year ushers in a momentous era of heightened public awareness, a time when every Nigerian must stand vigilant, and closely observe the actions and decisions of their political leaders.
He stressed the dawn of 2025 presents an invaluable opportunity to reshape and redefine the national dialogue, just as he urged citizens to actively participate in Atiku further welcomed the nation into 2025, reminding all Nigerians that this New Year is not merely a passage of time but a new chapter brimming with possibilities.
He called for all citizens to remain resolute in ensuring that political leaders at every level of government are held accountable and that no one wields unchecked power that could lead to the erosion of liberties and further exploitation of public office.
Reflecting on the previous year’s challenges, Atiku observed that 2024 provided a sobering glimpse into the pressing need for governmental accountability.
He expressed his profound gratitude to the Almighty for granting Nigerians the grace to witness another year despite the arduous trials faced in the past.
“The trials of the past year have only served to fortify our faith,” he said, “Our unshakable belief in divine protection has been our guiding light, and this same spirit of unwavering faith will continue to propel us forward in the coming year.”
Atiku implored all Nigerians to nurture the shared hopes of collective prosperity, reminding them that the citizenry’s vigilance is paramount in holding the government accountable for its actions.
“We must ensure that the power entrusted to those in leadership is never abused and that the claws of an overreaching government are firmly restrained,” he said.
Atiku said that this year, Nigerians must unite in the pursuit of good governance and stand resolute against any efforts by the ruling elite to divide the nation along religious and ethnic lines.
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