Tinubu targets 15% inflation rate by 2025, focus on agriculture, food security

President Bola Tinubu’s administration is set to tackle Nigeria’s inflation crisis by leveraging the agricultural sector, with an ambitious goal of reducing inflation to 15% by December 2025.

This was revealed by Dada Olusegun, the President’s Special Adviser on Social Media, in a statement shared on the social media platform X.

According to Olusegun, agriculture will play a pivotal role in the administration’s plans to curb inflation and ensure food security. The government has outlined a series of initiatives under the National Agricultural Mechanization Programme (NAMP) aimed at boosting productivity and reducing food prices.

“On food security, I can categorically confirm that agriculture will be a major priority for the administration in 2025,” Olusegun stated. “Several mechanisms have been put in place, including the delivery of farm equipment, which will begin soon.”

To modernize Nigeria’s agricultural sector, the government plans to distribute an array of mechanized farming equipment in the coming weeks.

The initiative also includes a partnership with John Deere, a global leader in agricultural machinery.

The company is expected to establish assembly and maintenance plants in Nigeria as part of a long-term strategy to ensure sustainable mechanization. Over the next five years, the supply of farming equipment will be expanded to meet the nation’s growing agricultural demands.

The government’s efforts extend beyond equipment distribution. Through collaboration with the African Development Bank (AfDB), several states will benefit from the Special Agro-Processing Zone (SAPZ) program. This initiative aims to enhance value addition in agriculture by creating hubs for processing and storage.

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Additionally, new zonal commodity exchanges are set to launch, complementing similar initiatives by state governments. These exchanges are designed to mitigate the adverse effects of hoarding and middlemen-driven inflation, ensuring fair prices for consumers and farmers alike.

The Tinubu administration’s focus on agriculture ties into its broader economic strategy of diversifying revenue sources and stabilizing prices. By addressing food security, the government aims to tackle a key driver of Nigeria’s inflationary pressures.

Experts have lauded the administration’s mechanization push but caution that infrastructural bottlenecks, such as poor rural roads and inadequate storage facilities, must also be addressed to maximize the program’s impact.

With the delivery of farming equipment imminent and long-term partnerships with key stakeholders like John Deere in place, the government is optimistic about achieving its inflation reduction target. However, successful implementation will depend on collaboration between federal, state, and local governments, as well as private sector participation.

The coming months will be critical as the administration rolls out these ambitious initiatives, setting the stage for what it hopes will be a transformative period for Nigeria’s agricultural sector and the economy at large.