• President pledges deeper security collaboration with U.S., others
• 10 million Nigerians to be empowered through ward-based programme
President Bola Ahmed Tinubu
President Bola Ahmed Tinubu has assured Nigerians that the new tax laws being rolled out by his administration will lay a solid foundation for shared prosperity, sustainable growth and long-term economic stability.
In his New Year goodwill message to the nation, the President said the tax reforms mark a critical phase in rebuilding Nigeria’s fiscal architecture.
“The new year marks a critical phase in implementing our tax reforms, designed to build a fair, competitive and robust fiscal foundation for Nigeria,” Tinubu said.
According to him, the reforms are aimed at harmonising the tax system, eliminating multiple taxation and raising revenue sustainably—not overburdening citizens.
“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 added.
The President commended states that have aligned with the national tax harmonisation agenda, noting that a streamlined tax system would reduce excessive taxes, levies and fees on citizens while strengthening government’s capacity to fund critical projects. The new tax regime takes effect today.
10 Million Jobs, Inclusive Growth
President Tinubu disclosed that the difficult reforms undertaken in 2025 were already yielding measurable gains, despite global economic headwinds, and expressed confidence that ordinary Nigerians would increasingly feel the benefits in 2026.
He unveiled an ambitious inclusive growth agenda aimed at bringing at least 10 million Nigerians into productive economic activity through the Renewed Hope Ward Development Programme.
“We aim to empower at least 1,000 people in each of the country’s 8,809 wards through agriculture, trade, food processing and mining,” he said.
Economic Gains, Stronger Fundamentals
Welcoming Nigerians to 2026, the President said his administration remains focused on consolidating gains recorded in 2025 and building a resilient, growth-oriented economy.
He noted that Nigeria closed 2025 on a strong economic footing, recording robust GDP growth in all four quarters, with annual growth projected to exceed four per cent.
According to him, the country maintained trade surpluses, achieved greater exchange-rate stability and steadily reduced inflation, which fell below 15 per cent, in line with government targets.
He also highlighted the strong performance of the Nigerian Stock Exchange, which gained 48.12 per cent in 2025, outperforming its peers, while foreign reserves rose to $45.4 billion as of December 29, 2025.
On foreign investment, Tinubu said investor confidence was rebounding, with foreign direct investment rising sharply to $720 million in Q3 2025, up from $90 million in the preceding quarter. He added that global credit rating agencies—Moody’s, Fitch and Standard & Poor’s—had consistently affirmed Nigeria’s economic direction.
Security, Infrastructure, Unity
On security, the President stressed that economic progress must be matched with peace and stability, noting ongoing operations against criminal and terrorist elements.
He disclosed that Nigeria, in collaboration with international partners including the United States, carried out decisive actions against terrorist targets in parts of the Northwest on December 24, with sustained military operations continuing across the Northwest and Northeast.
President Tinubu pledged deeper cooperation with regional and global partners in 2026 to eliminate threats to national security, while reaffirming his support for decentralised policing and regulated forest guards.
He also assured Nigerians that the government would continue to invest in modernising infrastructure—roads, power, ports, railways, airports, healthcare, education and agriculture—adding that all ongoing projects would continue without interruption.
Calling for national unity, the President urged Nigerians to embrace patriotism, integrity and collective responsibility in nation-building.
“To achieve our objectives in 2026, we must all play our part. Let us resolve to be better citizens, better neighbours and better stewards of our nation,” he said.
President Tinubu wished Nigerians a peaceful, productive and prosperous New Year and prayed for divine protection for the nation and its armed forces.
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