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Home Business & Finance

2025 Budget: Tinubu Unveils Plan to Cut Inflation from 34.6% to 15%

Nnaemeka OkwarabyNnaemeka Okwara
December 18, 2024
in Business & Finance
0
2025 Budget: Tinubu Unveils Plan to Cut Inflation from 34.6% to 15%
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President Bola Ahmed Tinubu has promised to lower Nigeria’s inflation rate from 34.6% to 15% by the end of 2025. He made this promise while presenting the 2025 budget plan to the 11th National Assembly in Abuja. During his speech, he talked about bold economic reforms to the economy aimed at stabilizing the economy and fostering growth.

“The 2025 budget shows that inflation will drop a lot, to 15%, by the end of next year. Also, the exchange rate should get better, going from about N1,700 to N1,500 for one dollar,” Tinubu said. “These projections are critical for making the economy stable and ensuring sustainable growth.”

Budget Summary

Crude Oil Production: Aiming for 2.06 million barrels daily.

Domestic Refining: Less dependence on imported oil.

Revenue Reforms: Improved tax systems to increase income and decrease reliance on imports.

The budget focuses on building infrastructure, improving security, and investing in farming and energy to help the economy grow and reduce the need for foreign money.

Tinubu urged Nigerians to back the administration’s bold reforms, stating, “The 2025 budget sets the stage for long-term economic growth.”

The budget now awaits legislative review, and experts are watching closely its  potential impacts on inflation and fiscal stability.

Tags: 2025 Budget2025 Budget: Tinubu Unveils Plan to Cut Inflation from 34.6% to 15%federal characterinflationNewsNigeriatinubu
Nnaemeka Okwara

Nnaemeka Okwara

Okwara Nnaemeka Emmanuel is a skilled wordsmith, passionate blogger, and content writer with a degree in Media Content, He has made a significant mark in the industry. He also holds certification in Marketing and advertising. He has honed a unique blend of creativity and strategic thinking.Driven by a belief in the power of creativity, He has established a niche for himself in diverse regions, leaving a trail of successful projects and satisfied clients. His ability to craft compelling narratives and engage audiences sets him apart in the competitive world of content creation.As a dedicated professional, He continues to push boundaries and set new landmarks in their field. Whether it's through captivating blog posts, persuasive copywriting, or innovative content strategies, Nnaemeka’s consistently delivers excellence, leaving a long lasting impact

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