President Bola Ahmed Tinubu has declared that 2026 will mark the beginning of a more robust phase of economic growth for Nigeria, saying ongoing reforms are yielding tangible results despite global economic headwinds.
In his New Year goodwill message to Nigerians yesterday, the President said the country closed 2025 on a strong economic footing, with steady growth, declining inflation, improved exchange rate stability and rising investor confidence.
According to him, Nigeria recorded robust gross domestic product growth in every quarter of 2025, with annualised growth expected to exceed 4 per cent. He said inflation declined steadily and fell below 15 per cent, in line with government targets, while trade surpluses were maintained.
Tinubu also said the Nigerian Stock Exchange outperformed many of its peers, posting a 48.12 per cent gain in 2025 and consolidating a bullish run that began in the second half of 2023.
On external buffers, the President said foreign reserves stood at $45.4 billion as of December 29, 2025, providing a firm cushion against external shocks and supporting the naira. He expressed confidence that the position would continue to strengthen in 2026.
He added that foreign direct investment was responding positively to the reform agenda, rising to $720 million in the third quarter of 2025 from $90 million in the preceding quarter, a development he attributed to renewed investor confidence and positive assessments by global credit rating agencies.
The President said his administration would consolidate economic gains in 2026 by deepening fiscal discipline and tax reforms aimed at building a fair, competitive and sustainable revenue base.
He recalled that he recently presented the 2026 Appropriation Bill to the National Assembly, stressing that patience, discipline and unity of purpose were required to place the country on a path of long-term stability and prosperity.
As inflation and interest rates moderate, Tinubu said the government expects increased fiscal space for investment in infrastructure and human capital development.
He also pledged to confront the challenge of multiple taxation across all tiers of government, commending states that have aligned with the national tax harmonisation agenda by adopting harmonised tax laws to reduce the burden of taxes, levies and fees on citizens and businesses.
“The new year marks a critical phase in implementing our tax reforms,” he said, noting that harmonisation would help raise revenue sustainably, correct fiscal distortions and strengthen the country’s capacity to finance infrastructure and social programmes.
On security, the President said economic progress must be matched by peace and stability, acknowledging ongoing threats from criminal and terrorist groups.
He said decisive actions were taken against terrorist targets in parts of the North-West on December 24, in collaboration with international partners, including the United States, adding that the Armed Forces had sustained operations against terrorist networks and criminal strongholds across the North-West and North-East.
Tinubu said security and intelligence agencies would deepen cooperation with regional and global partners in 2026 to eliminate threats to national security.
He reiterated his support for a decentralised policing system with appropriate safeguards, complemented by properly regulated forest guards, as part of a broader strategy to address terrorism, banditry and related challenges.
The President said 2026 would usher in tangible improvements in the lives of Nigerians through inclusive growth and social development.
He announced plans to accelerate the Renewed Hope Ward Development Programme, aimed at bringing at least 10 million Nigerians into productive economic activity by empowering at least 1,000 people in each of the country’s 8,809 wards.
According to him, agriculture, trade, food processing, and mining would be prioritised to stimulate local economies and expand grassroots opportunities.
He also pledged continued investment in infrastructure, including roads, power, ports, railways, airports, pipelines, healthcare, education and agriculture, saying all ongoing projects would continue without interruption to strengthen food security and improve quality of life.
Tinubu called on Nigerians to embrace unity, patriotism, and shared responsibility in the new year, saying that nation-building requires collective effort.