As Nigeria enters 2025, President Bola Ahmed Tinubu delivered a heartfelt New Year message on January 1, 2025, thanking Nigerians for their trust in him and wishing them joy, success, and good health. He expressed optimism for the year ahead, describing it as a time of promise and collective fulfillment. In his address, Tinubu acknowledged the challenges faced in 2024 but highlighted positive economic indicators, including decreasing fuel prices, foreign trade surpluses for three consecutive quarters, rising foreign reserves, and a strengthening Naira [335ba7b5].
However, the optimism expressed by Tinubu is met with criticism from opposition figures. Daramola Olarewaju, an aide to former Vice President Atiku Abubakar, criticized Tinubu's administration for worsening the struggles of citizens, stating that while Nigerians are hustling harder, they are becoming poorer under what he described as an oppressive regime [951d0a4b]. Olarewaju's comments reflect a growing sentiment among many Nigerians who are feeling the pinch of rising inflation and unemployment. Peter Obi, another opposition leader, echoed these concerns, claiming that the economy is in decline, with increasing inflation rates and joblessness [951d0a4b].
In a speech delivered on December 29, 2024, President Tinubu also addressed critical issues such as hunger and anger in Nigeria, particularly in Lagos, where deadly stampedes occurred over food distribution. He emphasized the urgent need for collective action against poverty, anarchy, ignorance, inflation, kidnapping, and unemployment [89b9bd4e]. This call for action aligns with his commitment to reducing inflation from 36.4% to 15% by the end of 2025, a target he announced during his budget presentation on December 18, 2024, and reiterated in his New Year message [f7bf04ac]. Critics argue that his cashless economy policies, which include the use of Point of Sale (POS) systems, have worsened inflation as merchants often charge extra fees, contributing to the rising costs of living [f7bf04ac].
The Tinubu Media Support Group (TMSG) has expressed strong support for the President's ambitious 2025 budget proposal of N47.9 trillion, which is N20 trillion more than the previous year's N28.7 trillion budget. TMSG highlighted significant allocations for critical sectors such as infrastructure (N4.06 trillion), security (N4.91 trillion), health, and education, emphasizing the budget's focus on economic growth [445833bd]. The group praised the budget as a significant step towards economic revitalization, noting that N14.97 trillion is allocated to critical sectors, including infrastructure, security, health, and education. TMSG also emphasized the ambitious revenue target of N36.3 trillion, highlighting the importance of diversifying the economy and boosting non-oil revenue [3d11afd2].
Tinubu announced the establishment of the National Credit Guarantee Company, which aims to enhance access to credit for underserved groups, thereby boosting economic output and food production [335ba7b5]. This initiative is part of a broader strategy to support women and youth in Nigeria's economic landscape. Vice-President Kashim Shettima echoed Tinubu's sentiments, stating that Nigerians will smile and prosper in 2025 as the economy improves. Shettima made this announcement after visiting President Tinubu in Lagos, emphasizing that the economy has started picking up and that solutions to national challenges are being developed in collaboration with the National Assembly [c1daa212].
In Ogun State, Governor Dapo Abiodun also promised a renewed focus on economic growth, equity, and resilience in 2025. He emphasized the importance of unity among citizens for peace and development, announcing a N20,000 end-of-year bonus for pensioners, marking a first in the state's history. Abiodun highlighted achievements in infrastructure, healthcare, and energy sectors, including the passing of the Ogun State Electricity Law for local regulation of power [768f29c6]. He pledged to address unemployment and improve social amenities, acknowledging the challenges faced in the past year and calling for renewed hope and determination among citizens.
Additionally, Tinubu plans to unveil the National Values Charter in the first quarter of 2025, which is intended to promote ethical principles and shared values among citizens. He emphasized the importance of unity and cooperation between the government and the populace, urging collaboration among governors and local councils to leverage opportunities in agriculture and energy [335ba7b5].
In a related development, Lagos State Governor Babajide Sanwo-Olu has reported that most governors are now convinced about the need for tax reforms aimed at increasing revenue across all government tiers. He emphasized the importance of socioeconomic development and plans to calendarize events to boost revenue. Sanwo-Olu noted that these reforms have gained acceptance among governors after they educated themselves on the benefits [18b14ad1]. Furthermore, Lagos State is set to build the largest food logistics hub in sub-Saharan Africa, expected to open by mid-2025, which aligns with the broader goals of enhancing food security and economic growth [18b14ad1].
Former Vice President Atiku Abubakar, in his own New Year address, echoed the call for unity and accountability among citizens. He warned against the dangers of unchecked power and urged Nigerians to actively participate in safeguarding their democracy [d97c14ff]. This dual call for unity comes at a time when the nation is grappling with economic challenges, including high inflation and insecurity, which have left many citizens skeptical about the government's promises [b4e4e161]. Emir Muhammadu Sanusi II also expressed concerns about the economic hardships facing the nation, highlighting the urgent need for effective governance to alleviate the struggles of the populace [951d0a4b].
Randle's commentary also highlighted Nigeria's hidden assets, estimated at £200 billion, urging for their recovery to alleviate financial issues. He acknowledged the historical context of Lagos and the importance of education and health for future generations [89b9bd4e]. The focus remains on balancing necessary reforms with the welfare of its citizens. The government's plans for the 2025 budget emphasize national development, security, education, and health, with hopes that these initiatives will translate into real improvements for the Nigerian people [c2c3c4bd]. The success of Tinubu's leadership will largely depend on his ability to fulfill his promises and restore public trust in the government, especially in light of skepticism regarding his inflation targets [f7bf04ac].