President Bola Tinubu has assured Nigerians of the resolution to boost food production, reduce food and drug inflation to 15 per cent, and strengthen the economy in 2025.

Speaking on Wednesday during his New Year message to the nation, President Tinubu underlined economic growth indicators, including lower fuel prices, rising foreign reserves, and a stronger Naira, as signs of progress in 2024 that would continue into 2025.

According to the President, Nigeria’s stock market’s record growth had generated trillions of naira in wealth, adding that the surge in foreign investment reflected renewed confidence in the country’s economy.

Tinubu acknowledged persistent inflation and rising costs of essentials, vowing to intensify efforts to reduce inflation from 34.6 per cent to 15 per cent through reforms aimed at boosting food production and encouraging local manufacturing of drugs and medical supplies.

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“Though 2024 posed numerous challenges to our citizens and households, I am confident that the New Year will bring brighter days.

“Economic indicators point to a positive and encouraging outlook for our nation. Fuel prices have gradually decreased, and we recorded foreign trade surpluses in three consecutive quarters.

“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 per cent to 15 per cent.

“With diligent work and God’s help, we will achieve this goal and provide relief to all our people,” said the President.