President Bola Tinubu has declared that 2026 will mark the beginning of a more robust phase of economic growth for Nigeria, projecting a continued decline in inflation and stronger GDP expansion as critical reforms begin to yield results.
In his New Year address to the nation on Thursday, the President pointed to moderating inflation, improved foreign reserves of $45.4 billion, rising investment inflows, and sustained trade surpluses as evidence of gathering economic momentum.
Key Economic Projections and Achievements:
· Inflation & Growth: Tinubu stated that inflation had declined to below 15% by the end of 2025, in line with administration targets, and pledged to reduce it further in the new year. He noted Nigeria recorded robust quarterly GDP growth, with annualised growth expected to exceed 4% for 2025.
· Investor Confidence: The President highlighted a significant rebound in Foreign Direct Investment (FDI), which rose to $720 million in Q3 2025 from $90 million the previous quarter. He also cited the Nigerian Stock Exchange’s 48.12% gain in 2025 as proof of renewed investor confidence.
· Fiscal Reforms: Tinubu emphasized a continued focus on tax reform and fiscal discipline, commending states aligning with the national tax harmonisation agenda to reduce the burden on citizens and businesses. He stated the 2026 budget aims to create fiscal space for infrastructure and human capital investment.
Security and Inclusive Development:
While focusing on the economy, the President affirmed that national security remains a priority, vowing that security agencies would “deepen cooperation with regional and global partners to eliminate all threats” in 2026.
He also outlined plans to accelerate inclusive growth through the Renewed Hope Ward Development Programme, aiming to bring at least 10 million Nigerians into productive economic activity by empowering communities nationwide.
A Call for Unity:
Tinubu concluded by calling for unity and shared responsibility, stating, “Nation-building is a shared responsibility. We must stand together in unity and purpose, uphold patriotism, and serve our country with honour and integrity.”
The full speech detailed the administration’s plans to build on the reforms of 2025, projecting a year of stronger economic performance and improved living standards for Nigerians.
TEXT OF PRESIDENT TINUBU’S NEW YEAR MESSAGE TO NIGERIANS
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.
BOLA AHMED TINUBU
PRESIDENT, FEDERAL REPUBLIC OF NIGERIA
JANUARY 1, 2026
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