Tinubu Expresses Optimism in Economy, Promises 15% Inflation Rate

President Bola Ahmed Tinubu has said that Nigeria’s economic indicators are pointing to a positive and encouraging outlook while promising to reduce Inflation to the bearest minimum.

The President said this during his new year nationwide broadcast on Wednesday.

According to him, the country has recorded foreign trade surpluses in three consecutive quarters, with foreign reserves rising and the Naira strengthening against the US dollar.

President Tinubu revealed this in his New Year message to Nigerians. He emphasized that his administration committed to increasing access to credit for individuals and critical sectors of the economy.

Similarly, he said the stock market has also experienced record growth, generating trillions of naira in wealth, while foreign investment has surged, reflecting renewed confidence in the economy. However, the cost of food and essential drugs remains a significant concern for many Nigerian households.

“To address this, the government has pledged to intensify efforts to lower these costs by boosting food production and promoting local manufacturing of essential drugs and other medical supplies. The aim is to reduce inflation from its current high of 34.6% to 15%,” he said.