President Bola Tinubu on Wednesday said the year 2025 would bring brighter days for all Nigerians. The president, said this in his New Year message to Nigerians, adding that his government would fulfill the collective desires of Nigerians. He said though 2024 posed numerous challenges, he was confident that the New Year would bring brighter days. The president, however, said the cost of food and essential drugs remained a significant concern for many Nigerian households in 2024.
He gave an assurance that his government would intensify efforts to lower these costs by boosting food production and promoting local manufacturing of essential drugs and other medical supplies. The president promised to reduce inflation from its current high rate of 34.6 per cent to 15 per cent. He said with diligent work and God’s help, his government would achieve this goal and provide relief to all Nigerians.
To achieve this, the Federal Government will establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises,” he said. The president said the company was expected to start operations before the end of the second quarter. He added that it would be a partnership of government institutions. The institutions, he said, would include Bank of Industry, Nigerian Consumer Credit Corporation, Nigerian Sovereign Investment Agency, Ministry of Finance Incorporated as well as private sector and multilateral organizations.
The president expressed optimism that this initiative would strengthen the financial system, expand credit access and support under-served groups such as women and youths. He said it would also drive growth, re-industrialization and better living standards for Nigerians
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