President Bola Tinubu promises massive food production, 15% inflation in 2025

President Bola Tinubu has assured Nigerians of his resolve to boost food production and reduce inflation on food and drugs to 15 per cent, while strengthening the economy in 2025.

In his New Year message to the nation, the president highlighted 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.

Speaking further, president Tinubu stated that 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 as foreign reserves has risen, and the Naira has strengthened against the US dollar, bringing greater stability.

Notably, the president 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.