President Bola Ahmed Tinubu this morning listed his goals for 2025, the top of which is to cut the cost of food and essential drugs.
In his New Year message, broadcast on national television and radio stations, he reaffirmed that his administration was determined to reduce inflation from 34.6 to 15 per cent.
He vowed to consolidate and increase access to credit for individuals and critical sectors to boost national economic output.
To achieve this, President Tinubu said the Federal Government will establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises.
The target time for this is the second quarter.
Calling for citizens’ support, he said the National Values Charter already approved by the Federal Executive Council will be unveiled in the first quarter.
Also billed for the quarter is the Youth Conference.
The President had in his October 1 broadcast announced a plan to hold the conference in response to last August’s cost of living protest.
The President urged governors and council chairpersons to work closely with the Federal Government to harness opportunities in agriculture, livestock, and tax reforms.
According to President Tinubu, economic indicators point to a positive outlook.
He noted that fuel prices have gradually decreased, while foreign trade surpluses were recorded in three consecutive quarters.
He said foreign reserves have risen, adding that the Naira has strengthened against the dollar, “bringing greater stability”.
He also said the stock market’s record growth has generated trillions of naira in wealth.
To him, the surge in foreign investment reflects renewed confidence in the Nigerian economy.
President Tinubu said: “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 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.”
The President expects the National Credit Guarantee Company to begin operations before the end of the second quarter.
The company is a partnership between the Bank of Industry, the 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,” the President said.
He stressed that to achieve national goals and objectives, citizens must become better and uncompromising in their devotion and allegiance to Nigeria.
This, he said, is because their moral rectitude and faith in the country are fundamental to the success of the Renewed Hope Agenda.
President Tinubu said: “In 2025, we will commit to promoting adherence to ethical principles, shared values, and beliefs under the National Identity Project.
“I will unveil the National Values Charter, already approved by the Federal Executive Council, in the first quarter of 2025.
“I will launch an ambitious national orientation campaign that fosters patriotism and love for our country and inspires citizens to rally together.
“The Charter will promote mutual commitments between the government and citizens and foster trust and cooperation among our diverse population and between the government and the citizens.
“As far-reaching and foundational as our reforms are, they can produce the desired outcomes only through shared common values and identities and unconditional love for our country.
“The Youth Confab will begin in the first quarter of 2025, a testament to our commitment to youth inclusiveness and investment as nation-builders.
“The Ministry of Youth will soon announce the modalities for selecting the conference’s representatives from our diverse, youthful population.”
The President thanked Nigerians for placing their confidence in him.
“Your trust humbles me, and I promise to continue serving you diligently and wholeheartedly,” he said.
“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.
“We are on the right path to building a great Nigeria that will work for everyone.
“Let us not get distracted by a tiny segment of our population that still sees things through the prisms of politics, ethnicity, region, and religion.”
He called on Nigerians to continue believing in themselves and keeping faith in our blessed country.
“Let me use this New Year’s message to urge our governors and local council chairpersons to work closely with the central government to seize emerging opportunities in agriculture, livestock, and tax reforms and move our nation forward.
“I commend governors who have embraced our Compressed Natural Gas initiative by launching CNG-propelled public transport.
“I also congratulate those who have adopted electric vehicles as part of our national energy mix and transition.
“The Federal Government will always offer necessary assistance to the states.
“To all citizens, your sacrifices have not been in vain over the past 19 months.
“I assure you they will not be in vain even in the months ahead. Together, let us stay the course of nation-building.
“The New Year will bring us closer to the bright future we all desire and the Nigeria of our dreams.”
House of Representatives Speaker Abbas Tajudeen said despite challenges, Nigerians should look ahead to a better 2025 with renewed hope.
In his New Year message, the Speaker expressed optimism that improvements will be seen in the new year.
In a statement by his Special Adviser on Media and Publicity, Musa Abdullahi Krishi, Abbas said: “In 2025, I am hopeful that positive changes will occur.
“Through the concerted efforts of the administration of President Tinubu, I believe we can address most of the current challenges we face as a nation.
“Let us remain hopeful and united as one people. Together, we will emerge stronger and triumph over our obstacles.”
Deputy Speaker, Benjamin Kalu, said the House would continue to work tirelessly to address the pressing issues that affect Nigerians.
He said in a statement: “We stand at the threshold of a new year, filled with promise and possibility.
“As we reflect on the triumphs and challenges of the past, we are reminded of the resilience and determination that define us.
“As we bid farewell to the past year and usher in a new one, I join my fellow citizens in reflecting on the progress we have made and the challenges we still face.
“I am proud of the significant legislative milestones we achieved in the past year, which have laid the groundwork for a brighter future for our nation.
“In the coming year, we will continue to work tirelessly to address the pressing issues that affect our citizens, from economic development and job creation to healthcare, education, and national security.
“We will also prioritise the passage of critical legislations that promote good governance, transparency, and accountability.”
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