Tinubu’s New Year Message: Commitment to Economic Growth and Inflation Reduction

In his New Year address to the nation, President Bola Ahmed Tinubu reassured Nigerians of his administration’s commitment to fostering economic growth, addressing inflation, and improving the quality of life for citizens. Tinubu highlighted key economic indicators, such as reduced fuel prices, a stronger Naira, and rising foreign reserves, as evidence of progress made in 2024, while promising to build on these achievements in 2025.

“Though 2024 posed numerous challenges to our citizens and households, I am confident that the New Year will bring brighter days,” Tinubu stated. He emphasized the government’s success in achieving consecutive trade surpluses, record growth in the stock market, and a surge in foreign investments. These developments, he noted, underscore renewed global confidence in Nigeria’s economy.

However, Tinubu acknowledged that the high cost of food and essential drugs remains a significant concern. He vowed to reduce inflation from its current 34.6% to 15% through reforms focused on boosting local food production and encouraging domestic manufacturing of essential goods. “With diligent work and God’s help, we will achieve this goal and provide relief to all our people,” he said.

Strategic Reforms and New Initiatives

To strengthen Nigeria’s economic framework, President Tinubu unveiled plans to establish a National Credit Guarantee Company, set to launch by mid-2025. The initiative aims to expand credit access for individuals and businesses by partnering with government institutions, the private sector, and multilateral organizations.

“This initiative will strengthen the confidence of the financial system, expand credit access, and support underserved groups such as women and youth,” Tinubu explained. He added that the reforms would drive re-industrialization, economic growth, and better living standards.

Tinubu also called on state governors and local councils to align with federal reforms in agriculture, livestock development, and taxation to maximize emerging economic opportunities. He commended governors who have embraced the Federal Government’s Compressed Natural Gas (CNG) initiative and integrated electric vehicles into public transportation, signaling his administration’s dedication to energy transition and sustainability.

National Values and Youth Inclusion

President Tinubu emphasized the importance of national unity and ethical values as cornerstones of the “Renewed Hope Agenda.” He announced plans to launch a National Values Charter and a national orientation campaign in early 2025 to foster patriotism and shared values among Nigerians. “The Charter will promote mutual commitments between the government and citizens and foster trust and cooperation among our diverse population,” he remarked.

Tinubu also reiterated his administration’s commitment to youth inclusiveness, announcing that the Youth Conference, initially planned in 2024, would begin in the first quarter of 2025. This initiative, spearheaded by the Ministry of Youth, will aim to harness the energy and creativity of Nigeria’s youthful population as a driving force for national development.

As Tinubu expressed confidence in Nigeria’s trajectory toward becoming a $1 trillion economy, he urged citizens to remain focused and united. “Your sacrifices have not been in vain over the past 19 months,” he concluded, wishing Nigerians a prosperous and fulfilling New Year.

PDP Calls on Tinubu to Address Insecurity, Fuel Shortages, and Food Crisis

As Nigerians usher in the year 2025, the Peoples Democratic Party (PDP) has called on President Bola Ahmed Tinubu to take immediate action to tackle the nation’s escalating crises, including insecurity, fuel shortages, and widespread hunger. The party accused the President of delivering “empty rhetoric, false promises, and unproven claims” since assuming office in May 2023, while failing to implement tangible measures to address the country’s pressing challenges.

In a statement signed by its National Publicity Secretary, Debo Ologunagba, the PDP expressed dissatisfaction with the President’s past addresses, which it claimed lacked substance and failed to provide solutions to Nigeria’s worsening socioeconomic issues. “The PDP charges President Tinubu not to taint the New Year with an address that will not proffer immediate and concrete steps to reduce the price of fuel, address widespread hunger, and provide clear-cut measures to guarantee security of lives and property,” the statement read. The party also decried what it termed “unbridled corruption, deceit, and wasteful spending” by leaders of the All Progressives Congress (APC), which it claimed had exacerbated the suffering of Nigerians.

Calls for Accountability and Policy Reforms

The PDP further urged President Tinubu to account for the billions of naira reportedly generated from the removal of the petroleum subsidy. The party criticized the government for failing to combat corruption effectively, pointing to allegations of over N25 trillion stolen by APC leaders and public officials. It demanded an investigation into these claims and the recovery of misappropriated funds, adding that Nigerians continue to endure poverty while government officials indulge in opulent lifestyles.

The PDP also highlighted the APC-led administration’s failure to address critical human rights violations, including the reported state-backed killings during the 2020 EndSARS protests. “Equally worrisome is the failure of the APC government to revisit and address the reported cases of alleged state-backed killings in various parts of the country, particularly the 2020 EndSARS killings,” the statement added.

Warning the APC against perpetuating its current policies into the new year, the PDP cautioned that continued insensitivity to citizens’ plight would deepen frustration and dissatisfaction. The opposition party, however, encouraged Nigerians to remain optimistic about the future, abide by the law, and demand greater transparency and accountability from the government as they navigate 2025.