President Bola Ahmed Tinubu has assured Nigerians that the new tax regime being implemented by his administration will create a foundation for shared prosperity, sustainable growth, and long-term economic stability.
In his New Year message, the President said: “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.”
He emphasised that the reforms are not intended to overburden citizens but to harmonise the tax system, eliminate multiple taxation, and generate revenue sustainably. “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,” he added.
President Tinubu stated that the reforms undertaken in 2025 are already yielding measurable gains despite global economic challenges and expressed confidence that ordinary Nigerians will increasingly benefit in 2026.
He unveiled an inclusive growth agenda aimed at bringing at least 10 million Nigerians into productive economic activities, empowering 1,000 people in each of the country’s 8,809 wards through agriculture, trade, food processing, and mining. “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,” he said.
President Tinubu also highlighted Nigeria’s strong economic performance in 2025, including robust GDP growth, trade surpluses, improved exchange-rate stability, and inflation reduction below 15 per cent. He noted the Nigerian Stock Exchange recorded a 48.12 per cent gain, while foreign reserves stood at $45.4 billion as of December 29, 2025.
On foreign investment, he said: “Investor confidence was returning, as foreign direct investment rose sharply to $720 million in the third quarter of 2025 from $90 million in the preceding quarter.” He added that global credit rating agencies, including Moody’s, Fitch, and Standard & Poor’s, have affirmed Nigeria’s economic direction.
Regarding security, President Tinubu acknowledged ongoing threats and said: “In collaboration with international partners, including the United States, decisive actions were taken against terrorist targets in parts of the North-west on December 24, with sustained military operations continuing across the Northwest and Northeast.” He pledged that in 2026, Nigeria’s security and intelligence agencies would deepen cooperation with regional and global partners to eliminate all threats to national security.
He reaffirmed his commitment to protecting lives, property, and national integrity, supporting decentralised policing complemented by properly regulated forest guards as part of the solution to insecurity.
The President assured that all ongoing infrastructure projects—including roads, power, ports, railways, airports, pipelines, healthcare, education, and agriculture—would continue without interruption.
In a call for unity, he urged Nigerians to take shared responsibility in nation-building, stressing patriotism, integrity, and collective purpose. “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.
He concluded by wishing Nigerians a peaceful, productive, and prosperous New Year, praying for divine protection for the country and its armed forces, and the defeat of all forces threatening national peace and stability.
