President Bola Tinubu has outlined his ambitious plan to reduce Nigeria’s inflation rate from 34.6% to 15%.
Speaking during the first President Media Chat on December 23, Tinubu emphasised his administration’s focus on improving Nigerians’ lives through increased local production and targeted support for farmers.
“Our strategy includes boosting local consumption of made-in-Nigeria products, providing substantial funding to farmers, and ensuring low-interest loans to stimulate production,” Tinubu said.
He further highlighted the importance of improving security to ensure that farmers can return to their farms without fear of attack.
The president also expressed his commitment to stimulating domestic manufacturing, including the production of pharmaceuticals.
“We have the resources to support the manufacturing of essential goods, and I’m working with experts like Professor Patrick to create incentives that will unlock our potential,” Tinubu added.
Additionally, Tinubu reiterated his administration’s goal to reduce the cost of governance, a key element in his broader strategy to ease inflationary pressures.
“It is about time to implement these changes and bring down the cost of governance,” he concluded.
With these measures, President Tinubu aims to stabilise Nigeria’s economy and provide Nigerians with a more sustainable and prosperous future.
