President Bola Ahmed Tinubu has declared that 2026 will mark the beginning of a more robust phase of economic growth for Nigeria, citing moderating inflation, stronger foreign reserves, rising investment inflows and sustained GDP expansion as evidence that recent reforms are beginning to yield results.
In his New Year address to the nation, the President said the fiscal, monetary and structural reforms implemented in 2025 had stabilised key economic indicators despite persistent global headwinds.
He pledged to deepen tax reforms, expand infrastructure investment, strengthen security operations and accelerate inclusive growth initiatives aimed at improving living standards across the country.
Tinubu assured Nigerians that the new tax regime, which takes effect today, is designed to lay the foundation for shared prosperity, sustainable growth and long-term economic stability.
“The new year marks a critical phase in implementing our tax reforms, designed to build a fair, competitive and robust fiscal foundation for Nigeria,” he said.
“By harmonising our tax system, we aim to raise revenue sustainably, address fiscal distortions and strengthen our capacity to finance infrastructure and social investments that will deliver shared prosperity.”
He stressed that the reforms were not intended
to overburden citizens but to eliminate multiple taxation and reduce the excessive burden of taxes, levies and fees.
He commended states that have aligned with the national tax harmonisation agenda, noting that a streamlined system would enhance Nigeria’s capacity to fund development priorities.
The President said the difficult reforms undertaken in 2025 were already producing measurable gains and expressed confidence that their benefits would increasingly be felt by ordinary Nigerians in the new year.
Unveiling an ambitious inclusive growth agenda, Tinubu said his administration would empower at least 10 million Nigerians through the Renewed Hope Ward Development Programme, targeting a minimum of 1,000 beneficiaries in each of the country’s 8,809 wards across agriculture, trade, food processing and mining.
According to him, Nigeria closed 2025 on a strong economic note, recording robust GDP growth in every quarter, with annualised growth projected to exceed four per cent. He said inflation had declined to below 15 per cent in line with government targets, while exchange-rate stability improved and trade surpluses were maintained.
Tinubu also highlighted the performance of the Nigerian Stock Exchange, which posted a 48.12 per cent gain in 2025, and said foreign reserves stood at $45.4 billion as of December 29, providing a strong buffer against external shocks.
Foreign direct investment, he added, rose sharply to $720 million in the third quarter of 2025 from $90 million in the preceding quarter, reflecting renewed investor confidence.
He noted that global credit rating agencies, including Moody’s, Fitch and Standard & Poor’s, had consistently affirmed Nigeria’s economic direction.
On security, the President acknowledged ongoing threats from criminal and terrorist groups but said decisive actions, including coordinated operations with international partners, had been taken against terrorist targets in parts of the North-west.
He pledged deeper cooperation with regional and global partners in 2026, reaffirming his commitment to decentralised policing and properly regulated forest guards.
Calling for national unity, Tinubu urged Nigerians to see nation-building as a shared responsibility, anchored on patriotism, integrity and collective purpose.
He wished the nation a peaceful, productive and prosperous New Year, while praying for divine protection for the country, its armed forces and the defeat of all forces threatening national peace and stability.
