President Bola Ahmed Tinubu has assured Nigerians of his administration’s commitment to boosting food production and reducing inflation on food and essential drugs to 15% in 2025. In his New Year address, the President also highlighted plans to strengthen the nation’s economy through sustained growth and stability.
Reviewing 2024, Tinubu noted significant progress, including reduced fuel prices, rising foreign reserves, and a stronger Naira. He added that foreign trade surpluses recorded in three consecutive quarters and a booming stock market have generated trillions of naira in wealth, while increased foreign investments signal renewed global confidence in Nigeria’s economic potential.
Despite these achievements, the President acknowledged the persistent challenges of high food and drug prices faced by Nigerian households. He expressed optimism that his government’s measures would lead to brighter economic prospects in the coming year, bringing relief and stability to citizens.
