President Tinubu Review How Fuel Price Is Going To Be This Year 2025

President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to improving food production, cutting inflation on essential items like food and pharmaceuticals to 15 percent, and strengthening the Nigerian economy in the year ahead.....KINDLY READ THE FULL STORY HERE▶

In his New Year message to Nigerians, Tinubu expressed optimism for the economic outlook in 2025, pointing to the substantial progress made in 2024 as a foundation for continued improvement.

The President highlighted key economic indicators such as the decline in fuel prices, an increase in foreign reserves, and a stronger Naira, as signs of a stabilizing economy.

“While 2024 presented many challenges for our citizens and households, I am confident that the New Year will bring brighter prospects,” he said.

“Economic indicators suggest a positive outlook for our nation. Fuel prices have steadily decreased, and we’ve experienced foreign trade surpluses for three consecutive quarters. Foreign reserves have risen, and the Naira has strengthened against the US dollar, leading to greater stability.”

Tinubu also noted the remarkable growth in Nigeria’s stock market, which has generated trillions of naira in wealth, reflecting renewed confidence in the country’s economic potential.

However, he acknowledged that the cost of food and essential drugs remained a major challenge for many Nigerian families in 2024. He recognized the persistence of inflation and the rising cost of essentials, vowing to intensify efforts to reduce inflation from its current 34.6 percent to 15 percent through reforms aimed at boosting food production and promoting local manufacturing of drugs and medical supplies.

“In 2025, our government will focus on increasing food production and fostering local manufacturing of essential drugs and medical supplies to bring down costs,” the President stated. “We are determined to reduce inflation from its current high of 34.6 percent to 15 percent.”