President Bola Tinubu has warned Nigerians against being distracted by the ploys of politicians, even as he declared the New Year 2025 one of great promise.
The President, who gave this warning in his message on the first day of the New Year, equally vowed increased access to credit to farmers in order to bring down the high cost of foods, even as he promised to unveil a new National Values Charter in the country in the New Year.
He also sought cooperation from state governors on the knotty issues of tax reforms, agriculture and livestock development in the country.
The President, in the speech, said: “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.
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.
Nevertheless, the cost of food and essential drugs remained a significant concern for many Nigerian households in 2024. “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%. With diligent work and God’s help, we will achieve this goal and provide relief to all our people. “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.
“The Company – expected to start operations before the end of the second quarter – is a partnership of government institutions, such as the Bank of Industry, Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Agency, and Ministry of Finance Incorporated, the private sector, and multilateral institutions.
“This initiative will strengthen the confidence of the financial system, expand credit access, and support under-served groups such as women and youth. It will drive growth, re-industrialisation, and better living standards for our people. “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.
