By Funmilayo Akinyemi/Akure
President Bola Tinubu has pledged to significantly increase focus on making food and medicine more affordable for the citizens and to reduce reliance on imports and potentially lower the cost of living in the country.
He stated this on Wednesday as part of his new year message.
This, he said, would be done by increasing domestic food output and supporting the production of vital medicines and healthcare products within the country.
“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,” he stated.
Tinubu further stated the government plans to make it easier for individuals and other critical aspects of the economy to access loans.
According to him, this would be accomplished through the creation of a new organization designed to guarantee loans, thereby reducing the risk for banks and businesses.
“The federal government will establish the National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises.
“This entity is projected to begin operating by mid-year and will involve collaboration between government bodies like the Bank of Industry, the Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Agency, and the Ministry of Finance Incorporated, along with private businesses and international,” he explained
The President who expressed appreciation to Nigerian Citizens for trusting him, promised to continue serving the people deligently.
“Thank you for placing your confidence in me as your president. Your trust humbles me, and I promise to continue serving you diligently and wholeheartedly,” Tinubu said.
