President Bola Tinubu has assured Nigerians that the year 2025 will bring brighter days, pledging that his administration will fulfill the collective aspirations of the nation.
In his New Year message to Nigerians on Wednesday, Tinubu acknowledged the challenges of 2024 but expressed confidence in a more promising year ahead.
“Economic indicators point to a positive and encouraging outlook for our nation,” the president 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. The stock market’s record growth has generated trillions of naira in wealth, and the surge in foreign investment reflects renewed confidence in our economy.”
However, Tinubu noted that the rising costs of food and essential drugs remained a significant concern for many households in 2024. He assured Nigerians that his government would intensify efforts to address these issues by boosting food production and promoting local manufacturing of essential medical supplies.
The president also announced plans to reduce inflation from its current rate of 34.6 percent to 15 percent. “With diligent work and God’s help, we will achieve this goal and provide relief to all Nigerians,” he said.
Tinubu outlined plans to enhance access to credit for individuals and key economic sectors by establishing the National Credit Guarantee Company. The initiative, set to launch before the end of the second quarter, will expand risk-sharing instruments for financial institutions and enterprises.
The company will be a partnership involving government institutions such as the Bank of Industry, Nigerian Consumer Credit Corporation, Nigerian Sovereign Investment Agency, Ministry of Finance Incorporated, as well as private sector and multilateral organizations.
According to Tinubu, the initiative aims to strengthen the financial system, improve credit access for under-served groups such as women and youth, and drive re-industrialization and economic growth.
The president also expressed gratitude to Nigerians for their trust in his leadership. “Your trust humbles me, and I promise to continue serving you diligently and wholeheartedly,” he said.
He called for unity and cooperation in pursuing the goal of transforming Nigeria into a one trillion-dollar economy. “Let us not get distracted by a tiny segment of our population that still sees things through the prisms of politics, ethnicity, region, and religion,” Tinubu urged.
The president concluded by reaffirming his commitment to reforms that will foster sustainable growth and prosperity, expressing optimism that Nigeria is on the right path to becoming a great nation that works for everyone.
