President Bola Tinubu has pledged to tackle Nigeria’s high inflation rate, currently at 34.6%, with a target of reducing it to 15%.
Speaking during the inaugural Presidential Media Chat on Monday, December 23, Tinubu emphasized his administration’s commitment to enhancing the quality of life for Nigerians.
He outlined plans to boost the consumption of locally produced goods, particularly food, and to provide farmers with adequate funding and low-interest loans.
Tinubu stressed the importance of improving security across the country, enabling farmers to return to their fields without fear of attack.
“Our focus is on increasing local production, supporting essential imports, and offering reasonable funding to farmers at low interest rates,” Tinubu stated.
“Improved security, as outlined in the budget, will help farmers get back to work and boost food production.”
The president also highlighted the need to encourage local manufacturing, particularly in the pharmaceutical sector, by creating incentives to harness the country’s potential.
Additionally, Tinubu expressed his intention to reduce governance costs as part of broader economic reforms.