2025: Tinubu mulls National Credit Guarantee Company to expand funding access

…To unveil the National Values Charter, soon
….Promises Youth Confab in 1st quarter

President Bola Tinubu said his administration plans to float a National Credit Guarantee Company to expand risk-sharing instruments for financial institutions and enterprises.

The President, in his new year message, expressed confidence that 2025 will bring many hopes, aspirations, and prospects for better days.

The company, which is expected to start operations before the end of the second quarter, is a partnership among government institutions such as the Bank of Industry, Nigerian Consumer Credit Corporation, the Nigerian Sovereign Investment Agency, and Ministry of Finance Incorporated, the private sector, and multilateral institutions.

“This initiative will strengthen the confidence of the financial system, expand credit access, and support under-served groups such as women and youth. It will drive growth, re-industrialisation, and better living standards for our people.”

“By the grace of God, 2025 will be a year of great promise in which we will fulfill our collective desires”

The President, while admitting that 2024 posed numerous challenges to Nigerians and households, said 2025 will bring brighter days.

The President harped on increases foreign reserves and the prospects for Naira rebound, noting that these are indications that the economy will stabilise in 2025.

“Economic indicators point to a positive and encouraging outlook for our nation. Fuel prices have gradually decreased, and we recorded foreign trade surpluses in three consecutive quarters.
“The stock market’s record growth has generated trillions of naira in wealth, and the surge in foreign investment reflects renewed confidence in our economy. Nevertheless, the cost of food and essential drugs remained a significant concern for many Nigerian households in 2024.”

He also expressed government’s committments to intensifying efforts to lower the cost of living by boosting food production and promoting local manufacturing of essential drugs and other medical supplies.

The President reiterated his plans to reduce inflation from its current high of 34.6 percent to 15 percent, adding that, “with diligent work and God’s help, we will achieve this goal and provide relief to all our people.

“In this new year, my administration will further consolidate and increase access to credit for individuals and critical sectors of the economy to boost national economic output.

“On a personal note, 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.

“We will continue to embark on necessary reforms to foster sustainable growth and prosperity for our nation.

“I seek your cooperation and collaboration at all times as we pursue our goal of a one trillion-dollar economy. Let us stay focused and united.”

“We are on the right path to building a great Nigeria that will work for everyone. Let us not get distracted by a tiny segment of our population that still sees things through the prisms of politics, ethnicity, region, and religion.”

The President also promised to unveil the National Values Charter, already approved by the Federal Executive Council, in the first quarter of 2025.

“I will launch an ambitious national orientation campaign that fosters patriotism and love for our country and inspires citizens to rally together. The Charter will promote mutual commitments between the government and citizens and foster trust and cooperation among our diverse population and between the government and the citizens.

“The Youth Confab will begin in the first quarter of 2025, a testament to our commitment to youth inclusiveness and investment as nation-builders. The Ministry of Youth will soon announce the modalities for selecting the conference’s representatives from our diverse, youthful population.”

“Dear Compatriots, I urge you to continue believing in yourselves and keeping faith in our blessed country,” he said.

The President also urged the governors and local council chairpersons to work closely with the central government to seize emerging opportunities in agriculture, livestock, and tax reforms and move our nation forward.

He however commended the governors who have embraced the Compressed Natural Gas initiative by launching CNG-propelled public transport.

“I also congratulate those who have adopted electric vehicles as part of our national energy mix and transition. The Federal Government will always offer necessary assistance to the states.”