President Bola Ahmed Tinubu has promised that his administration will reduce food costs and inflation to 15%, down from 34.60% in November 2024.
The President announced this in his New Year’s message to Nigerians on Wednesday.
According to him, his administration’s goal is to improve food production in order to cut food prices across the country and to boost local manufacturing of important medications and 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.
