President Bola Ahmed Tinubu has pledged that his administration will bring down inflation to 15% from the 34.6% recorded in November 2024 and significantly reduce food prices across the country.

In his New Year’s address to Nigerians, the President outlined his administration’s commitment to achieving these goals through massive food production and the promotion of local manufacturing of essential goods, including medical supplies.

“Our government is determined to lower these costs by increasing food production and supporting local manufacturing of essential drugs and medical supplies,” Tinubu said. “With focused efforts and God’s help, we aim to reduce inflation to 15% and provide much-needed relief to our people.”

The President emphasized the importance of boosting access to credit for individuals and critical economic sectors as part of a broader strategy to enhance national productivity.

“In 2025, we will intensify efforts to expand access to credit and support critical sectors of the economy. This will not only stimulate economic growth but also help us achieve our vision of a one trillion-dollar economy,” Tinubu explained.

Tinubu also called for unity and cooperation from all Nigerians to achieve the administration’s ambitious economic targets.

“I urge you to remain focused and united as we work together toward this shared goal. Your collaboration is vital for our success,” he added.

Despite the hardships endured in 2024, many Nigerians are cautiously optimistic about the possibility of economic recovery and growth in the coming year, buoyed by the President’s promises and the administration’s plans for transformation.