President Bola Tinubu, in his New Year’s message to Nigerians, outlined the country’s economic outlook for 2026, his administration’s plan for strengthening national security, and the controversial new tax laws, among other issues.
Full text below.
Fellow Compatriots,
I welcome you all to 2026, with gratitude to God and
confidence in our collective resolve that this new year will be a more
prosperous one for our nation, our citizens, and all who call Nigeria home.
During 2025, we sustained the momentum on our major
reforms. We had a fiscal reset and also recorded steady economic progress.
Despite persistent global economic headwinds, we recorded tangible and
measurable gains, particularly in the economy. These achievements reaffirm our
belief that the difficult but necessary reforms we embarked upon are moving us
in the right direction with more concrete results on the horizon for the
ordinary Nigerian.
𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜
𝐏𝐫𝐨𝐠𝐫𝐞𝐬𝐬
𝐚𝐧𝐝
𝐎𝐮𝐭𝐥𝐨𝐨𝐤
As we enter 2026, our focus is on consolidating these
gains and continuing to build a resilient, sustainable, inclusive, and
growth-oriented economy.
We closed 2025 on a strong note. Despite the policies to
fight inflation, Nigeria recorded a robust GDP growth each quarter, with
annualised growth expected to exceed 4 per cent for the year. We maintained
trade surpluses and achieved greater exchange rate stability. Inflation
declined steadily and reached below 15 per cent, in line with our target. In
2026, we are determined to reduce inflation further and ensure that the
benefits of reform reach every Nigerian household. In 2025, the Nigerian Stock
Exchange outperformed its peers, posting a robust 48.12 per cent gain and
consolidating its bullish run that began in the second half of 2023.
Supported by sound monetary policy management, our
foreign reserves stood at $45.4 billion as of December 29, 2025, providing a
substantial buffer against external shocks for the Naira. We expect this
position to strengthen further in the new year.
Foreign direct investment is also responding positively.
In the third quarter of 2025, FDI rose to $720 million, up from $90 million in
the preceding quarter, reflecting renewed investor confidence in Nigeria’s
economic direction, which global credit rating agencies, including Moody’s,
Fitch, and Standard & Poor’s, have consistently affirmed and applauded.
𝐅𝐢𝐬𝐜𝐚𝐥 𝐃𝐢𝐬𝐜𝐢𝐩𝐥𝐢𝐧𝐞
𝐚𝐧𝐝
𝐓𝐚𝐱
𝐑𝐞𝐟𝐨𝐫𝐦
A few days ago, I presented the 2026 Appropriation Bill
to the National Assembly. In that address, I emphasised that our administration
has implemented critical reforms that are laying a solid foundation for
long-term stability and prosperity. With patience, fiscal discipline, and unity
of purpose, Nigeria will emerge in 2026 stronger and better positioned for
sustained growth.
As inflation and interest rates moderate, we expect
increased fiscal space for productive investment in infrastructure and human
capital development. We are also confronting the challenge of multiple taxation
across all tiers of government. I commend states that have aligned with the
national tax harmonisation agenda by adopting harmonised tax laws to reduce the
excessive burden of taxes, levies, and fees on our people and on basic
consumption.
The new year marks a critical phase in implementing our
tax reforms, designed to build a fair, competitive, and robust fiscal
foundation for Nigeria. 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.
𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲
𝐚𝐧𝐝
𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥
𝐒𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲
My fellow Nigerians, the path of reform is never easy,
but it is necessary. We remain mindful that economic progress must be
accompanied by security and peace.
Our nation continues to confront security threats from
criminal and terrorist elements determined to disrupt our way of life. In
collaboration with international partners, including the United States,
decisive actions were taken against terrorist targets in parts of the Northwest
on December 24. Our Armed Forces have since sustained operations against terror
networks and criminal strongholds across the Northwest and Northeast.
In 2026, our security and intelligence agencies will
deepen cooperation with regional and global partners to eliminate all threats
to national security. We remain committed to protecting lives, property, and
the territorial integrity of our country. I continue to believe that a
decentralised policing system with appropriate safeguards, complemented by
properly regulated forest guards, all anchored on accountability, is critical
to effectively addressing terrorism, banditry, and related security challenges.
𝐈𝐧𝐜𝐥𝐮𝐬𝐢𝐯𝐞
𝐆𝐫𝐨𝐰𝐭𝐡
𝐚𝐧𝐝
𝐒𝐨𝐜𝐢𝐚𝐥
𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭
The new year marks the beginning of a more robust phase
of economic growth, with tangible improvements in the lives of our people. We
will accelerate the implementation of the Renewed Hope Ward Development
Programme, aiming to bring at least 10 million Nigerians into productive
economic activity by empowering at least 1,000 people in each of the 8,809
wards across the country.
Through agriculture, trade, food processing, and mining,
we will stimulate local economies and expand grassroots opportunities. We will
also continue to invest in modernising Nigeria’s infrastructure – roads, power,
ports, railways, airports, pipelines, healthcare, education, and agriculture to
strengthen food security and improve quality of life. All ongoing projects will
continue without interruption.
𝐀 𝐂𝐚𝐥𝐥
𝐭𝐨
𝐔𝐧𝐢𝐭𝐲
𝐚𝐧𝐝
𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐢𝐛𝐢𝐥𝐢𝐭𝐲
To achieve our objectives in 2026, we must all play our
part. Nation-building is a shared responsibility. We must stand together in
unity and purpose, uphold patriotism, and serve our country with honour and
integrity in our respective roles. Let us resolve to be better citizens, better
neighbours, and better stewards of our nation.
Fellow Nigerians, I wish you all a peaceful, productive,
and prosperous New Year. May God continue to bless and protect our beloved
country,
keep our troops safe and destroy the enemies bent on disrupting our national
peace, security and stability.
Happy New Year to you all.
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