By Jemimah Wellington, JKNewsMedia Reporter
EFFORTS TO tackle inflation, economic recovery, and national unity took centre stage in President Bola Tinubu’s New Year address on Wednesday, January 1, 2025.
He pledged to reduce inflation from 34.6% to 15% by the end of 2025, focusing on food production and local manufacturing of essential drugs.
The President highlighted improved economic indicators, including fuel price reductions, a stronger naira, rising foreign reserves, and record stock market growth generating trillions in wealth.
He acknowledged, however, the lingering burden of high food and drug costs on households.
Tinubu revealed plans to establish a National Credit Guarantee Company by mid-2025.
He said this initiative would be a collaboration between government institutions and private sector players towards expanding credit access, especially for women, youth, and critical economic sectors.
Tinubu also encouraged governors and local leaders to seize opportunities in agriculture, tax reforms, and energy transition initiatives, including CNG and electric vehicles.
Emphasising shared values and unity, Tinubu announced the launch of a National Values Charter to promote ethical principles and strengthen trust between citizens and the government.
He reaffirmed his administration’s commitment to reforms that will drive growth, reindustrialisation, and a brighter future for Nigerians, among others.
