President Bola Tinubu has reiterated his administration’s plans to reduce inflation from its current high of 34.6 percent to 15 percent in 2025.
President Tinubu, in his New Year messages, admitted that 2024 posed numerous challenges to Nigerians and households.
He said that 2025 will bring brighter days, adding, “By the grace of God, 2025 will be a year of great promise in which we will fulfill our collective desires;” with diligent work and God’s help, we will achieve this goal and provide relief to all our people.”
President Tinubu also said that his administration plans to float a National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises.
The company, which is expected to start operations before the end of the second quarter, is a partnership among 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-industrialization, and better living standards for our people,” he said.
