FULL TEXT: In New Year Message, Bola Tinubu Speaks on Tax Reforms, National Security, Economic Outlook

President Bola Tinubu has outlined his administration’s economic priorities for 2026, security strategy, and the implementation of new tax reforms in his New Year message to Nigerians, expressing optimism that the country is on a steady path toward recovery and sustainable growth.
Welcoming Nigerians to 2026, the President said the previous year marked a period of tough but necessary reforms, noting that his government sustained momentum on fiscal restructuring and economic stabilisation despite global economic headwinds. According to him, the reforms carried out in 2025 are already yielding measurable results and laying the groundwork for improved living standards.
Economic outlook
Tinubu disclosed that Nigeria closed 2025 with strong economic indicators, including consistent quarterly GDP growth, with annual growth projected to exceed four per cent. He said inflation declined steadily to below 15 per cent, exchange rate stability improved, and trade surpluses were maintained. The President added that Nigeria’s foreign reserves stood at $45.4 billion as of December 29, 2025, providing a buffer against external shocks, while foreign direct investment rose sharply to $720 million in the third quarter of 2025.
He also highlighted the performance of the Nigerian Stock Exchange, which reportedly gained over 48 per cent in 2025, reflecting growing investor confidence backed by positive assessments from global credit rating agencies.
Tax reforms and fiscal discipline
Addressing concerns around taxation, the President said 2026 would be a critical year for implementing tax reforms aimed at building a fair, competitive, and harmonised tax system. He noted that the government is tackling multiple taxation across federal, state, and local levels, commending states that have adopted harmonised tax laws to reduce the burden on citizens and businesses. According to him, the reforms are designed to raise revenue sustainably while funding infrastructure and social investments.
Security and national stability
On security, Tinubu acknowledged ongoing threats from terrorists and criminal groups but assured Nigerians that decisive actions are being taken. He cited recent operations against terrorist targets in the Northwest and ongoing military efforts across the Northwest and Northeast. The President said his administration would deepen cooperation with regional and international partners in 2026 and reiterated his support for decentralised policing and regulated forest guards as part of efforts to tackle insecurity.
Inclusive growth and social development
The President announced plans to accelerate the Renewed Hope Ward Development Programme, targeting the empowerment of at least 10 million Nigerians through agriculture, trade, mining, and food processing. He also pledged continued investment in infrastructure, including roads, power, rail, ports, healthcare, education, and agriculture, stressing that all ongoing projects would continue without interruption.
Call for unity
Concluding his message, Tinubu urged Nigerians to embrace unity, patriotism, and shared responsibility, stressing that nation-building requires collective effort. He wished citizens a peaceful and prosperous New Year, praying for continued peace, security, and stability across the country.