Drop in Inflation: Tinubu's Policies Showing Results, Says Minister
Reduction in Inflation Rates: Not a Coincidence, Attributed to Tinubu's Initiatives - Idris
In an upbeat press briefing, the Minister of Information, Mohammed Idris, has announced that the decrease in inflation for April 2025 is a testament to President Bola Tinubu's policies being the best for the country.
The NBS's April 2025 CPI report stated that the nation's headline inflation rate dropped to 23.71%, a decrease of 0.52% compared to the 24.23% recorded in March. Month-on-month, inflation dipped by an impressive 2.04%, from 3.90% in March to 1.86% in April.
Speaking at the eighth edition of the ministerial press briefing, Idris shared his optimism, saying, "The President's focused interventions are clearly paying off. The benefits of reform, though gradual, are real and measurable."
He pointed out that food prices have shown signs of easing, crediting the government's efforts in agriculture. According to the report, the year-on-year food inflation rate decreased to 21.26% in April, with a month-on-month slowdown to 2.06%, down from 2.18% in March. The Minister emphasized that price reductions in staple items like maize flour, wheat grain, yam flour, okro, soya beans, rice, and beans largely drove this positive movement.
Idris stated that the major drivers of headline inflation - food and non-alcoholic beverages, restaurant and accommodation services, and transport - are being targeted through strategic government interventions in the agricultural, transportation, and service sectors. He further asserted that these efforts are yielding results and helping to ease pressure on household incomes.
The Minister acknowledged that much work still needs to be done but expressed hope that the government will sustain the gains. He reiterated that the President's focus remains improving the lives of the citizens.
"This latest inflation figures give us every reason to be hopeful. They show that the hard decisions are beginning to bear fruit. And as inflation eases, we expect to see corresponding improvements in consumer purchasing power and living conditions," he added.
The Minister's assessment appears to be supported by the broader economic reforms implemented by the Tinubu administration. These include unification of exchange rates, removal of petrol subsidies, promotion of local content, improved tax administration, and enhanced water and sanitation sector investments, all contributing to a more stable economic environment that can help manage inflation and food prices over time.
For more insights, check out What Tinubu Did That Led to the Crash in Food Prices - BUA chairman, Rabiu and President Tinubu Travels to Rome for Inauguration of Pope Leo XIV. Stay tuned for updates on the government's ongoing efforts to sustain this positive trend and improve the lives of citizens.
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[4] Nwaifo, C. O. (2018). The impact of fuel subsidy removal on the Nigerian economy. Journal of Applied Science and Technology, 16(2), 801.
- In the discussion about the drop in inflation, the Minister of Information, Mohammed Idris, highlighted the positive impact of President Bola Tinubu's policies on the Nigerian economy, particularly in the areas of agriculture and finance.
- The Minister expressed optimism that the decrease in food prices, which was evident in the April 2025 CPI report, is a result of the government's efforts in agriculture under Tinubu's administration.
- In his statement, the Minister mentioned that strategic interventions in the agricultural, transportation, and service sectors are helping to lower the headline inflation rate, thereby easing pressure on household incomes in Nigeria.
- To further stabilize the economy and manage inflation over time, the Tinubu administration has implemented various economic reforms, such as unification of exchange rates, removal of petrol subsidies, promotion of local content, improved tax administration, and enhanced water and sanitation sector investments.
