President Bola Ahmed Tinubu has given an assurance that his administration will reduce the prices of food and lower inflation to 15 percent from the 34.60 percent recorded in November 2024.
He made the promise in his New Year’s message to Nigerians on Wednesday.
The president stated that his administration aimed to achieve this through massive food production to lower the prices of food items and promotion of the local manufacturing of essential drugs and other medical supplies.
Tinubu also assured of increased access to credit for individuals and critical sectors of the economy, in order to enhance national economic output.
“In 2025, our government is committed to intensifying efforts to lower these costs by boosting food production and promoting local manufacturing of essential drugs and other medical supplies. We are resolute in our ambition to reduce inflation from its current high of 34.6% to 15%” he stated.
The Nigerian president sought the cooperation and support of Nigerians to achieve his administration’s economic targets in 2025.
