Following the commencement of the new tax laws, President Bola Ahmed Tinubu has assured Nigerians that the new law initiated by his administration will become the bedrock for shared prosperity, sustainable growth and long-term economic stability.
President Tinubu gave this assurance in his New Year goodwill message to Nigerians, made available to New Telegraph on Thursday, January 1.
The President reiterated that the reforms were not aimed at overburdening citizens but at harmonising the tax system, eliminating multiple taxation and raising revenue sustainably.
He 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.
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“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 said.
Tinubu further stated that a streamlined tax system would strengthen the country’s capacity to finance infrastructure and social investments, adding that the difficult reforms undertaken in 2025 were already yielding measurable gains, despite global economic headwinds.
The President expressed confidence that the benefits would increasingly be felt by ordinary citizens in the new year.
He unveiled an ambitious, inclusive growth agenda that will bring at least 10 million Nigerians into productive economic activity.
He explained that the initiative would empower at least 1,000 people in each of the country’s 8,809 wards through agriculture, trade, food processing and mining.
He said: “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.”
Welcoming Nigerians to 2026, President Tinubu said his administration remained focused on consolidating economic gains recorded in the past year and building a resilient, inclusive and growth-oriented economy.
He noted that the fiscal reset initiated by his government had begun to restore confidence and stability across key sectors.
He added, “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.”
According to the President, Nigeria closed 2025 on a strong economic note, recording robust GDP growth in every quarter, with annualised growth projected to exceed four per cent.
He added that 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 further highlighted the performance of the Nigerian Stock Exchange, which, he said, outperformed its peers with a 48.12 per cent gain in 2025, consolidating a bullish run that began in the second half of 2023.
President Tinubu also said Nigeria’s foreign reserves stood at $45.4 billion as of December 29, 2025, providing a strong buffer against external shocks and strengthening confidence in the naira.
On foreign investment, the President 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 said global credit rating agencies, including Moody’s, Fitch and Standard & Poor’s, had consistently affirmed and applauded Nigeria’s economic direction.
On security, the President acknowledged that economic progress must go hand in hand with peace and stability, noting that Nigeria continued to face threats from criminal and terrorist elements.
He noted that 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.
President Tinubu 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 the territorial integrity of the country, while restating his belief in decentralised policing, complemented by properly regulated forest guards, as part of the solution to insecurity.
President Tinubu said his administration would continue to invest in modernising critical infrastructure, including roads, power, ports, railways, airports, pipelines, healthcare, education and agriculture, stressing that all ongoing projects would continue without interruption.
In a call for national unity, the President urged Nigerians to see nation-building as a shared responsibility, emphasising the need for patriotism, integrity and collective purpose in achieving the country’s goals.
“To achieve our objectives in 2026, we must all play our part,” he said. “Let us resolve to be better citizens, better neighbours and better stewards of our nation.”
He wished Nigerians a peaceful, productive and prosperous New Year, while praying for divine protection for the country and its armed forces, and the defeat of all forces threatening national peace and stability.
