
In a comprehensive New Year address, President Bola Tinubu outlined his administration’s ambitious plans to bolster food production, strengthen the economy, and drastically reduce inflation to 15 percent by 2025. He expressed optimism about Nigeria’s trajectory, citing encouraging economic indicators as signs of progress despite the challenges of 2024.
Tinubu highlighted achievements over the past year, including declining fuel prices, a stronger Naira, increased foreign reserves, and three consecutive quarters of trade surpluses. He credited these improvements to economic reforms and renewed investor confidence, which he said had driven record-breaking growth in the stock market, generating trillions of naira in wealth.

“Though 2024 posed numerous challenges to our citizens and households, I am confident that the New Year will bring brighter days,” Tinubu said. “With diligent work and God’s help, we will achieve our goals and provide relief to all Nigerians.”
Addressing the persistent high cost of food and essential drugs, Tinubu acknowledged inflation as a significant concern. He pledged to lower inflation from its current 34.6 percent to 15 percent by implementing measures to boost agricultural productivity and promote local manufacturing of pharmaceuticals and medical supplies.
“In 2025, our government will intensify efforts to reduce costs by boosting food production and encouraging local drug manufacturing,” Tinubu stated. “This will provide relief for households and stabilize the economy.”
The President also announced plans to launch the National Credit Guarantee Company in 2025 to increase access to credit for individuals and key economic sectors. The initiative, set to commence operations by mid-year, is a partnership involving government institutions, private sector stakeholders, and multilateral organizations.
“This initiative will expand credit access, particularly for underserved groups such as women and youth, driving growth, re-industrialisation, and improved living standards,” Tinubu explained.
Tinubu emphasised the importance of unity and ethical values under his Renewed Hope Agenda. He announced plans to unveil a National Values Charter in early 2025, alongside a nationwide campaign to promote patriotism and shared values.
“The Charter will foster trust and cooperation among our diverse population, promoting a shared identity and love for our nation,” he said.
Additionally, the President reiterated his commitment to youth development, highlighting the upcoming Youth Confab as a platform for inclusivity and investment in Nigeria’s future leaders.
The Peoples Democratic Party (PDP) criticised Tinubu’s address, accusing his administration of rhetoric without action. In a statement by its National Publicity Secretary, Debo Ologunagba, the PDP highlighted issues such as insecurity, fuel shortages, and rising food prices, urging the government to provide concrete solutions.
“Previous addresses by Mr. President have been filled with unsubstantiated claims and empty promises,” the PDP said. “We call on the government to address widespread corruption, budget mismanagement, and the suffering of Nigerians with immediate and actionable measures.”
The opposition also demanded accountability for funds generated from the removal of fuel subsidies and alleged financial mismanagement within government agencies.
Despite criticism, Tinubu urged Nigerians to remain hopeful, emphasizing the country’s potential to achieve a $1 trillion economy. He called for unity and collaboration across all levels of government and society to overcome challenges and build a prosperous future.
“Together, let us stay the course of nation-building,” Tinubu concluded. “As we enter 2025, I wish everyone a happy and prosperous New Year. By the grace of God, this will be a year of great promise in which we will fulfill our collective aspirations.”