By Jemimah Wellington, JKNewsMedia Reporter
NIGERIA’s inflation rate, currently at 34%, could drop to 15% by 2025 if President Bola Tinubu’s ambitious plans succeed.
Speaking during his first media chat in Lagos, Tinubu revealed targeted measures to stabilise the economy and spur growth, including boosting local production, improving farming security, and providing low-interest loans to farmers.
The President emphasised the importance of prioritising agriculture and local manufacturing to reduce dependence on imports, promising reforms aimed at creating sustainable economic growth and long-term stability for the nation.
He also unveiled strategies prioritising local production, enhanced security for farmers, and low-interest loans to boost agricultural output.
He also emphasised manufacturing drugs locally as another measure to stabilise prices.
Moreover, President Tinubu stood firm on the controversial fuel subsidy removal, stating it was essential to end years of resource mismanagement. ”
We can’t spend our children’s inheritance on fuel subsidies,” he said.
He also called for prudent bill management as the country adjusts to economic reforms, urging citizens to “cut their coat according to their size.”
On infrastructure, the President lamented Nigeria’s borrowing for short-term needs.
He vowed to prioritise capital projects, citing poor roads, inadequate internet infrastructure, and electricity deficits as areas needing urgent attention.
Tinubu also proposed assembling electric vehicles locally to attract foreign investment, leveraging Nigeria’s vast lithium reserves.
