President Bola Ahmed Tinubu has reassured Nigerians of his administration's commitment to reducing inflation and boosting food production as part of the government's economic agenda for 2025.
In his New Year address, Tinubu outlined significant progress achieved in 2024, highlighting lower fuel prices, rising foreign reserves, and a stronger Naira as indicators of economic recovery.
“Though 2024 posed numerous challenges to our citizens and households, I am confident that the New Year will bring brighter days,” the President said, emphasizing the government's resolve to reduce inflation from 34.6% to 15% through targeted reforms in agriculture and local manufacturing of medical supplies.
Tinubu acknowledged the rising cost of food and essential drugs as a significant concern but assured Nigerians of measures to improve affordability. “With diligent work and God’s help, we will achieve this goal and provide relief to all our people,” he stated.
The President also announced plans to establish the National Credit Guarantee Company by mid-2025 to expand credit access for individuals and businesses.
This initiative aims to drive growth, reindustrialization, and better living standards while supporting underserved groups, including women and youth.
In his address, Tinubu appealed for cooperation from state governors and local councils to align with federal agricultural and tax reforms, urging them to seize opportunities in the energy and agricultural sectors.
He commended states that adopted the Federal Government's Compressed Natural Gas (CNG) and electric vehicle initiatives, pledging continued federal support.
Highlighting the Renewed Hope Agenda, the President unveiled plans to promote national unity and ethical values through a National Values Charter, which will be launched in the first quarter of 2025 alongside a national orientation campaign to foster patriotism and shared values.
“Our reforms can only produce the desired outcomes through shared common values and identities and unconditional love for our country,” Tinubu said. He also reaffirmed his administration's ambition to achieve a $1 trillion economy, calling on Nigerians to remain united and focused.
In response to the President’s address, the opposition Peoples Democratic Party (PDP) criticized Tinubu for what it described as “empty rhetoric” and “false promises” over the past 18 months.
The PDP urged the President to take immediate action on escalating insecurity, widespread hunger, and fuel shortages, accusing his administration of pursuing anti-people policies and failing to address critical issues.
The PDP's National Publicity Secretary, Debo Ologunagba, accused the APC-led government of corruption, wasteful spending, and neglecting the welfare of citizens.
He demanded accountability for the funds generated from the removal of fuel subsidies and an investigation into alleged corruption within government agencies.
“While Nigerians die of hunger and insecurity, APC leaders and officials in government continue to flaunt their luxury appetite and lifestyle in utter disdain for the feelings of millions of impoverished citizens,” the PDP said in its statement.
The party called on Nigerians to remain hopeful for the future and committed to defending the country’s democracy while demanding greater transparency and accountability from the government.
As 2025 begins, Tinubu’s administration faces the dual challenge of delivering on its economic promises while addressing widespread public criticism and dissatisfaction.
The year will be pivotal in determining whether the government's reforms can translate into tangible improvements in the lives of ordinary Nigerians.