President Bola Ahmed Tinubu has pledged to cut inflation from 34.60% in November 2024 to 15% and reduce food prices under his administration.
In his New Year’s address to Nigerians on Wednesday, Tinubu outlined plans to boost massive food production, aiming to lower food costs nationwide. He also emphasized promoting local manufacturing of essential drugs and medical supplies. Furthermore, the President promised expanded credit access for individuals and key economic sectors to enhance national economic growth.
“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,” he stated.
Tinubu also sought the cooperation and support of Nigerians to achieve the administration’s economic targets in the new year.
“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,” he stated.
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