President Bola Tinubu on Wednesday, expressed optimism that the year 2025 would usher in better days for all Nigerians.
In his New Year address to the nation, the president assured that his administration would work to meet the shared aspirations of the Nigerian people.
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Acknowledging the challenges of 2024, he expressed confidence that the coming year would offer brighter prospects.
“Economic indicators point to a positive and encouraging outlook for our nation.”
He noted that fuel prices had gradually fallen, and Nigeria had achieved trade surpluses for 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,” he remarked.
Despite these achievements, the president highlighted the continued high cost of food and essential medicines as a major concern for many Nigerian households in 2024.
He reassured Nigerians that his government would intensify efforts to reduce these costs through increased food production and the local manufacturing of essential drugs and medical supplies.
The president committed to lowering inflation from its current level of 34.6 percent to 15 percent.
He expressed optimism that with hard work and divine support, his administration would reach this target, bringing relief to Nigerians.
“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.”
“To achieve this, the Federal Government will establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises,” he stated.
The president revealed that the new company would begin operations before the end of the second quarter.
He explained that it would be a collaboration among government agencies.
These institutions would include the Bank of Industry, Nigerian Consumer Credit Corporation, Nigerian Sovereign Investment Agency, Ministry of Finance Incorporated, alongside private sector and multilateral organizations.
Tinubu expressed hope that this initiative would strengthen the financial system, improve credit access, and support underrepresented groups such as women and youth.
He added that it would foster growth, re-industrialization, and improve living standards for Nigerians.
“On a personal note, thank you for placing your confidence in me as your president.”
“Your trust humbles me, and I promise to continue serving you diligently and wholeheartedly.”
“We will continue to embark on necessary reforms to foster sustainable growth and prosperity for our nation.”
“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,” the president concluded.
According to him, Nigeria is on the right path toward building a prosperous nation that will benefit all citizens.
“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,” Tinubu advised.
Crediblenewsng.com
