Yemisi Izuora
President Bola Tinubu, has made a firm promised with the hope that a recommitted team efforts to reduce inflation from its current high of 34.6 per cent to 15 per cent in 2025.
In his new year broadcast he acknowledged that though that 2024 posed numerous challenges to citizens and households, but however expressed confidence that the New Year will bring brighter days.
Economic indicators point to a positive and encouraging outlook for our nation. He said that fuel prices gradually decreased, and the country recorded foreign trade surpluses in three consecutive quarters.
He also said foreign foreign reserves rose and the Naira strengthened against the US dollar, bringing greater stability.
The stock market’s he continued recorded growth has generated trillions of naira in wealth, and the surge in foreign investment reflects renewed confidence in our economy.
Nevertheless, he noted that the cost of food and essential drugs remained a significant concern for many Nigerian households in 2024.
“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
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.” Tinubu said in the broadcast.
To achieve this, his administration will establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises.
The Company which is 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.
This initiative will strengthen the confidence of the financial system, expand credit access, and support under-served groups such as women and youth.
Tinubu expresses the hope that the initiative will drive growth, re-industrialisation, and better living standards for our people, while he assured that the Government will continue to embark on necessary reforms to foster sustainable growth and prosperity for our nation.
“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.
We are on the right path to building a great Nigeria that will work for everyone. 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.” the President appealed.
The President sentenced on to say that to achieve our national goals and objectives, we must become better citizens and uncompromising in our devotion and allegiance to Nigeria.
Citizens’ moral rectitude and faith in our country are fundamental to the success of the Renewed Hope Agenda, adding that “In 2025, we will commit to promoting adherence to ethical principles, shared values, and beliefs under the National Identity Project.”
He also announced that his administration will unveil the National Values Charter, already approved by the Federal Executive Council, in the first quarter of 2025.
“I will launch an ambitious national orientation campaign that fosters patriotism and love for our country and inspires citizens to rally together. The Charter will promote mutual commitments between the government and citizens and foster trust and cooperation among our diverse population and between the government and the citizens.
“As far-reaching and foundational as our reforms are, they can produce the desired outcomes only through shared common values and identities and unconditional love for our country.
“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.”
In the broadcast he urged State 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 also commended Governors who have embraced the Compressed Natural Gas initiative by launching CNG-propelled public transport and others who have adopted electric vehicles as part of national energy mix and transition.
He promised that the Federal Government will always offer necessary assistance to the states as he hopes that the New Year will bring everyone closer to the bright future we all desire and the Nigeria of our dreams.