President Bola Ahmed Tinubu has vowed that his administration will reduce the prices of food and lower inflation to 15 percent from 34.60 percent as recorded in November 2024.
The President disclosed this in his New Year's message to Nigerians on Wednesday.
According to him, his administration targets massive food production to lower the prices of food items nationwide and promote the local manufacturing of essential drugs and other medical supplies.
He promised increased access to credit for individuals and critical sectors of the economy to boost national economic output.
"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.
We reported that Nigerians are optimistic about a rejuvenated economy amid glimmers of hope despite the acute hardship faced in 2024.
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