Tinubu Targets Lower Inflation, Increased Food Production in 2025

In his New Year message, President Bola Tinubu unveiled ambitious plans to alleviate economic pressures on Nigerians in 2025. The president pledged to reduce food and drug inflation from the current 34.6% to 15% while ramping up food production and promoting local manufacturing.

President Tinubu outlined a comprehensive strategy to achieve these goals, focusing on enhancing local production, expanding access to credit, and fostering economic stability. Among the key initiatives announced were:

Reducing Inflation: A commitment to cut inflation on food and essential drugs to 15% through targeted reforms in agriculture and manufacturing.

Boosting Food Production: Intensifying efforts to increase agricultural output, ensuring affordable and accessible food for households.

Establishing the National Credit Guarantee Company: Launching a platform to provide expanded access to credit for individuals and critical sectors of the economy, bolstering economic growth.

Promoting Local Manufacturing: Encouraging the production of essential drugs and medical supplies locally to reduce dependency on imports and lower costs.

“These reforms are aimed at bringing immediate relief to Nigerian families while fostering long-term economic growth,” Tinubu stated, emphasizing his administration’s dedication to creating a more resilient and self-reliant economy.

The promises have sparked hope among Nigerians, who continue to grapple with high living costs and economic uncertainty. Experts believe the success of these initiatives will depend on effective policy implementation and collaboration across various sectors.

As the nation looks forward to 2025, Tinubu’s roadmap presents an opportunity to address pressing economic challenges and chart a course toward sustainable development.