President Says Economic Reforms Are Paying Off, Vows Lower Inflation, Stronger Security and Grassroots Growth
President Bola Ahmed Tinubu has assured Nigerians that 2026 will usher in improved prosperity, as his administration intensifies efforts to consolidate ongoing economic reforms and deliver tangible benefits to citizens.
The President gave the assurance in his New Year message, where he said the reforms implemented over the past year were beginning to yield measurable results despite global economic challenges.
According to Tinubu, his government sustained the momentum of major fiscal and structural reforms throughout 2025, recording steady economic progress and laying a foundation for long-term growth.
He noted that the country experienced a fiscal reset, improved macroeconomic stability and tangible gains in key sectors of the economy, describing the reforms as “difficult but necessary” steps that are now moving Nigeria in the right direction.
Economic Growth, Lower Inflation and Stronger Reserves
Tinubu said Nigeria closed 2025 on a strong footing, recording robust GDP growth in every quarter, with annual growth projected to exceed four per cent.
Despite aggressive anti-inflation policies, the President said the economy remained resilient, adding that inflation declined steadily to below 15 per cent, aligning with the administration’s target.
He also disclosed that Nigeria maintained trade surpluses, achieved improved exchange-rate stability, and strengthened its external buffers, with foreign reserves standing at $45.4 billion as of December 29, 2025.
The President expressed optimism that the reserves would rise further in 2026, providing greater protection for the naira against external shocks.
Stock Market Rally and Rising Investor Confidence
Highlighting gains in the capital market, Tinubu said the Nigerian Stock Exchange outperformed its peers in 2025, posting a 48.12 per cent increase and extending a bullish trend that began in the second half of 2023.
He added that foreign investor confidence had also improved significantly, with Foreign Direct Investment rising to $720 million in the third quarter of 2025, up sharply from $90 million in the previous quarter.
According to him, Nigeria’s improving economic outlook has been recognised by international credit rating agencies, including Moody’s, Fitch and Standard & Poor’s, which have affirmed and commended the country’s reform trajectory.
Tax Reforms and Fiscal Discipline
Looking ahead to 2026, the President said the government would focus on consolidating gains, deepening reforms and building a resilient, inclusive and growth-oriented economy.
He said moderating inflation and interest rates would create more fiscal space for infrastructure investment and human capital development.
Tinubu also addressed the issue of multiple taxation, pledging to reduce the burden on citizens and businesses through tax harmonisation.
He commended states that have adopted harmonised tax laws and said 2026 would mark a critical phase in implementing tax reforms aimed at creating a fairer, more competitive and sustainable fiscal system.
According to him, harmonising taxes will help raise revenue efficiently, correct fiscal distortions and strengthen the government’s ability to fund infrastructure and social investments.
Security Remains a Priority
The President stressed that economic progress must go hand-in-hand with improved security, noting that Nigeria continues to face threats from terrorists and criminal groups.
He revealed that, in collaboration with international partners including the United States, decisive strikes were carried out against terrorist targets in parts of the Northwest on December 24, with sustained military operations continuing across the Northwest and Northeast.
Tinubu said security and intelligence agencies would deepen cooperation with regional and global partners in 2026 to eliminate threats to national security.
He reaffirmed his commitment to protecting lives and property and reiterated his support for a decentralised policing system, complemented by properly regulated forest guards and anchored on accountability.
Grassroots Development and Renewed Hope Programme
The President also announced plans to accelerate the Renewed Hope Ward Development Programme, which aims to bring at least 10 million Nigerians into productive economic activity.
The programme targets the empowerment of no fewer than 1,000 people in each of Nigeria’s 8,809 wards, focusing on agriculture, trade, food processing and mining to stimulate local economies.
Tinubu added that his administration would continue investing in roads, power, ports, railways, airports, pipelines, healthcare, education and agriculture, assuring Nigerians that all ongoing infrastructure projects would proceed without interruption.
Call for Unity and Patriotism
As he welcomed Nigerians into the new year, the President called for unity, patriotism and shared responsibility, urging citizens to support the government’s efforts and contribute positively to nation-building.
“Let us resolve to be better citizens, better neighbours and better stewards of our nation,” Tinubu said.
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