President Bola Ahmed Tinubu has expressed optimism for a prosperous 2025, assuring Nigerians that his administration is committed to fulfilling the collective aspirations of the nation.
In his New Year message delivered on Wednesday, Tinubu reflected on the challenges of 2024 but maintained that the year ahead would bring significant progress and brighter days for all.
“Economic indicators point to a positive and encouraging outlook for our nation,” he said. “Fuel prices have gradually decreased, and we recorded foreign trade surpluses in three consecutive quarters. Foreign reserves have risen, and the naira has strengthened against the US dollar, bringing greater stability. The stock market’s record growth has generated trillions of naira in wealth, and the surge in foreign investment reflects renewed confidence in our economy.”
Despite these gains, the president acknowledged lingering challenges, particularly the high cost of food and essential medications, which remain burdensome for many households. He assured Nigerians that his government would intensify efforts to address these issues by increasing food production and fostering local manufacturing of essential drugs and medical supplies.
Tinubu also outlined an ambitious plan to curb inflation, aiming to reduce the rate from its current 34.6% to 15% through diligent policies and strategic interventions.
“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,” he said.
To achieve this, Tinubu announced the establishment of the National Credit Guarantee Company, slated to begin operations by the second quarter of 2025. This initiative, a collaboration between government institutions like the Bank of Industry, Nigerian Sovereign Investment Agency, and private sector partners, aims to expand financial access, particularly for underserved groups such as women and youths.
“The company will strengthen the financial system, drive growth, re-industrialisation, and elevate living standards for Nigerians,” he added.
The president thanked Nigerians for their trust, describing it as a source of humility and motivation to continue serving diligently. He emphasized the need for unity, urging citizens to rise above divisions rooted in politics, ethnicity, or religion.
“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. Nigeria is on the right path to building a great nation that will work for everyone,” Tinubu said.
He concluded by reiterating his administration’s commitment to achieving a one-trillion-dollar economy and fostering sustainable growth for the country.
