President Bola Tinubu on Thursday said 2026 would usher in a stronger phase of economic growth for Nigeria, pointing to slowing inflation, firmer foreign reserves, rising investment inflows and steady GDP expansion as signs that recent reforms are delivering results.
In his New Year address, the President said fiscal, monetary and structural reforms rolled out in 2025 had stabilised key indicators despite global pressures. He pledged to deepen tax reforms, expand infrastructure spending, strengthen security efforts and fast-track inclusive growth to lift living standards nationwide.
2026 signals a stronger phase of economic growth
Fellow compatriots,
I welcome you to 2026 with gratitude to God and confidence in our shared resolve to make this year more prosperous for Nigeria and all who call it home.
In 2025, we sustained the momentum of our reforms. We reset fiscal policy and recorded steady economic progress. Despite global headwinds, we achieved measurable gains, especially in the economy. These outcomes confirm that our tough but necessary reforms are moving Nigeria in the right direction, with clearer benefits ahead for ordinary citizens.
Economic progress and outlook
As we enter 2026, our priority is to consolidate gains and build a resilient, inclusive and growth-driven economy.
We ended 2025 strongly. Despite anti-inflation measures, GDP expanded each quarter, with full-year growth projected above 4 per cent. Trade surpluses improved and exchange rate stability strengthened. Inflation eased to below 15 per cent, meeting our target. In 2026, we aim to reduce it further and ensure reforms benefit every household.
The Nigerian Stock Exchange outperformed peers in 2025, rising 48.12 per cent and extending a rally that began in late 2023.
Backed by prudent monetary management, foreign reserves reached $45.4 billion as of December 29, 2025, offering a solid buffer for the naira. We expect further improvement this year.
Investor confidence is returning. Foreign direct investment climbed to $720 million in the third quarter of 2025 from $90 million in the previous quarter. Global rating agencies, including Moody’s, Fitch and S&P, have acknowledged this positive direction.
Fiscal discipline and tax reform
I recently presented the 2026 Appropriation Bill to the National Assembly. I reaffirmed that our reforms are laying a firm base for long-term stability and prosperity. With patience, discipline and unity, Nigeria will emerge stronger in 2026.
As inflation and interest rates ease, fiscal space will widen for infrastructure and human capital investment. We are tackling multiple taxation across all tiers of government. I commend states that have adopted harmonised tax laws to reduce the burden of levies and fees on citizens and basic consumption.
The new year marks a critical stage in implementing tax reforms to build a fair, competitive and durable fiscal system. Harmonisation will raise revenue sustainably, correct distortions and strengthen our capacity to fund infrastructure and social programmes for shared prosperity.
Security and national stability
Economic progress must go hand in hand with peace and security.
Nigeria continues to face threats from criminal and terrorist groups. Working 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 sustained operations across the Northwest and Northeast.
In 2026, security agencies will deepen cooperation with regional and global partners to eliminate threats. We remain committed to protecting lives, property and territorial integrity. I believe decentralised policing, with safeguards and accountability, alongside regulated forest guards, is vital to tackling terrorism and banditry.
Inclusive growth and social development
The new year begins a more robust growth phase, with tangible improvements for our people. We will accelerate the Renewed Hope Ward Development Programme to bring at least 10 million Nigerians into productive activity by empowering no fewer than 1,000 people in each of the 8,809 wards.
Through agriculture, trade, processing and mining, we will energise local economies. We will continue investing in roads, power, ports, rail, airports, pipelines, healthcare, education and agriculture to boost food security and quality of life. All ongoing projects will continue uninterrupted.
A call to unity and responsibility
Nation-building is a shared duty. We must act with unity and purpose, uphold patriotism and serve with integrity. Let us be better citizens, neighbours and stewards of our country.
I wish you a peaceful, productive and prosperous New Year. May God bless Nigeria, protect our people and keep our security forces safe.
Happy New Year.
Bola Ahmed Tinubu, GCFR
President, Commander-in-Chief
Federal Republic of Nigeria
January 1, 2026
