How Tinubu will reduce inflation to 15 percent by December – Presidency

The Special Adviser to President Bola Tinubu on Social Media, Dada Olusegun, has disclosed that the president is determined to reduce inflation to 15 percent by December 2025.

Olusegun said the agricultural sector would be a major tool to achieve Tinubu’s ambition because the president is targeting food security.

In a statement on X, he said several mechanisms have been put in place including the delivery of farm equipment which will begin soon to achieve it.

According to Olusegun: “ON FOOD SECURITY, I can categorically confirm that agriculture will be a major priority for the administration in 2025 as President Tinubu has set an ambitious agenda of reducing inflation across the board to 15% by December.

“To achieve this, several mechanisms have been put in place including the delivery of farm equipment which will begin soon.

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“It’s not just the 2,000 tractors mentioned by President Tinubu in his new year speech;

“4000 disc ploughs, 1000 disc ridges, 1200 tractor trailers and other assorted spare parts are set to be delivered to Nigeria over the next few weeks as part of a major mechanization project under the National Agricultural Mechanization Programme (NAMP).

“@JohnDeere is also expected to set up assembly/maintenance plants for these equipments in Nigeria as they will be replicating the supply successively over the next five years.

“Several states will also be supported via the Special Agro Processing Zone program which is spearheaded by the Africa Development Bank.

“On storage and commodity boards, several zonal commodity exchanges are expected to come on board just as much as many state governments have started the process of floating the same to mitigate the effects of hoarding and middlemen-induced inflation.”