By Ayomide Otitoju
President Bola Tinubu has pledged to address the economic challenges facing Nigerians, particularly rising food and drug prices, through a series of targeted interventions, including the launch of the National Credit Guarantee Company.
In a New Year’s message delivered Wednesday, Tinubu expressed optimism about Nigeria’s economic prospects in 2025, emphasizing plans to boost local manufacturing and expand access to credit for critical sectors.
The National Credit Guarantee Company, slated to commence operations by the second quarter of 2025, will be a partnership involving key government institutions such as the Bank of Industry, Nigerian Consumer Credit Corporation, Nigerian Sovereign Investment Agency, and private sector entities. The initiative aims to enhance financial inclusion, support underserved groups, and drive economic growth.
“As the new year dawns, it brings many hopes and aspirations for brighter days,” Tinubu said. “Despite the challenges of 2024, economic indicators point to a positive outlook for our nation, with decreasing fuel prices, foreign trade surpluses, strengthened foreign reserves, and a more stable naira.”
The President acknowledged the burden of inflation, which he vowed to reduce from 34.6% to 15% by year’s end through increased food production and local manufacturing of essential goods.
Youth Empowerment and Infrastructure Development
Tinubu also announced the launch of a Youth Confab in the first quarter of 2025 to promote inclusivity and investment in young Nigerians. The initiative will be led by the Ministry of Youth, which will detail the selection process for participants from diverse backgrounds.
The President urged state governors and local council leaders to collaborate with the federal government to harness opportunities in agriculture, livestock, and tax reforms. He commended states adopting compressed natural gas (CNG) and electric vehicles as part of the national energy transition strategy, pledging continued federal support for these initiatives.
National Unity and Values Charter
Tinubu stressed the importance of national unity and ethical conduct as cornerstones for achieving the administration’s Renewed Hope Agenda. He announced plans to unveil the National Values Charter in the first quarter of 2025, alongside a national orientation campaign to inspire patriotism and foster trust between the government and citizens.
“Let us not be distracted by divisions rooted in politics, ethnicity, or religion,” he said. “We must remain united in our devotion to Nigeria and committed to our shared goals.”
Tinubu concluded by reaffirming his commitment to building a prosperous Nigeria, urging citizens to work together toward achieving the goal of a $1 trillion economy.
