President Bola Tinubu has promised Nigerians that the soaring inflation in Nigeria would be brought down to 15% from its current form at 34.6%. He stated this during his New Year address to the people of the country, who have a bleaker festival.
Hardship, poverty and suffering of the people have been exacerbated as a result of the economic policies of the administration of President Bola Tinubu. Several small scale businesses have unfortunately collapsed while unemployment is skyrocketing as well as hyperinflation.
The president recognized the fact that there is hyperinflation and he said that his administration would lower the costs of goods by enhancing production of food and promoting local production of drugs.
He said, “In 2025, our government is committed to intensifying efforts to lower these costs by boosting food production and promoting local manufacturing of essential drugs and other medical supplies. We are resolute in our ambition to reduce inflation from its current high 34.6% to 15%. With diligent work and God’s help, we will achieve this goal and provide relief to our people”.
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