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.
