…says new tax policies will significantly increase revenue
President Bola Tinubu has assured Nigerians that as economic reforms begin to mature, strong economic growth will usher in 2026, bringing at least 10 million Nigerians into the productive sector, as well as empowering 1,000 individuals in each of the 8,809 wards across the country.
In his New Year message, the President said this year will also see tangible improvements in the lives of Nigerians.
According to him, the projected increase is linked to the accelerated implementation of the Renewed Hope Ward Development Programme, which aims to bring at least 10 million Nigerians into productive economic activity by empowering at least 1,000 people in each ward across the country.
Also read: Tinubu says new tax laws will come into effect from January 1
However, beyond broad assurances, the message failed to provide specific details on how the objectives would be achieved.
President Tinubu said his administration is focused on consolidating 2025 gains “by continuing to build a resilient, sustainable, inclusive and growth-oriented economy”.
He also reiterated plans to move forward with the implementation of new tax reform policies, despite ongoing criticism over alleged changes to the gazetted tax laws that were signed into law.
According to the President, 2026 is an important stage in the implementation of tax reforms, designed to create a fair, competitive and strong fiscal foundation for Nigeria.
“By harmonizing our tax system, we aim to sustainably grow revenues, eliminate fiscal distortions, and strengthen our ability to finance infrastructure and social investments that will deliver shared prosperity,” he said.
The President, who also reiterated that “the path to reform is never easy, but it is necessary,” said economic progress must also be accompanied by improved security and peace.
President Tinubu said his administration, in 2025, “sustained the momentum of major reforms”, noting that the government conducted a fiscal reset and recorded steady economic growth despite persistent global economic headwinds.
He said, “We have recorded solid and measurable gains, particularly in the economy. These achievements reaffirm our belief that the difficult but necessary reforms we have embarked on are taking us in the right direction, with more tangible results on the horizon for the ordinary Nigerian.”
He said Nigeria closed 2025 on a strong note, recording strong GDP growth in each quarter, with annual growth expected to exceed four percent for the year.
The President said, “Despite inflation-fighting policies, we maintained trade surpluses and achieved greater exchange rate stability. Inflation declined steadily and fell below 15 percent, in line with our target. In 2026, we are committed to further reducing inflation and ensuring that the benefits of the recovery reach every Nigerian household.”
He also said that in 2025, the Nigerian Stock Exchange outperformed its peers, recording a gain of 48.12 percent and consolidating its uptrend that started in the second half of 2023.
