President Bola Tinubu in his New Year message on Wednesday emphasised a positive economic outlook for 2025, highlighting key achievements in 2024.
Here are ten major takeaways from Tinubu’s New Year speech:
1. Positive Economic Outlook for 2025:
President Tinubu emphasised a positive economic outlook for 2025, highlighting key achievements in 2024, such as the strengthening of the Naira, three consecutive quarters of foreign trade surpluses, and decreasing fuel prices.
2. Record Stock Market Growth and Foreign Investment Surge:
The stock market experienced record growth, creating trillions in wealth, and a surge in foreign investments demonstrated renewed confidence in the Nigerian economy.
3. Reducing Inflation and Boosting Local Production:
He said the government is committed to reducing inflation from 34.6% to 15% by increasing food production and promoting the local manufacturing of essential drugs and medical supplies.
4. Establishment of the National Credit Guarantee Company:
The National Credit Guarantee Company will be established by the second quarter of 2025 to expand credit access for individuals and underserved groups, such as women and youth, and to drive economic growth and re-industrialization.
5. Achieving a One-Trillion-Dollar Economy:
A key national objective is achieving a one-trillion-dollar economy through sustained reforms and collaboration among government levels while promoting unity and focus on development.
6. Launch of the National Values Charter:
The National Values Charter will be unveiled in the first quarter of 2025, promoting ethical principles, patriotism, and trust between citizens and the government under the National Identity Project.
7. Youth Empowerment through Youth Confab:
The Youth Confab, set to launch in early 2025, will empower young Nigerians as nation-builders, with the Ministry of Youth coordinating the selection of representatives.
8. Collaboration with States on Key National Initiatives:
State governments are urged to collaborate with the federal government on initiatives like agriculture, livestock, and tax reforms, while embracing energy transitions such as CNG and electric vehicles.
9. Encouragement for Unity and Shared National Goals:
Citizens are encouraged to remain united and committed to national goals, avoiding divisive tendencies based on politics, ethnicity, or religion, to ensure the success of the Renewed Hope Agenda.
10. Gratitude for Sacrifices and Assurance of a Bright Future:
President Tinubu expressed gratitude for citizens’ sacrifices over the past 19 months, reassuring Nigerians that their efforts will yield progress toward the nation’s bright future and shared dreams.