• President says reforms delivering results as GDP growth tops 4%
• FG to deepen tax reforms, expand fiscal space for infrastructure, social investment
• Renewed Hope ward programme to target 10m Nigerians
• N’Assembly: 2025 reforms laid foundation for economic recovery in 2026
• ADC says 2025 deepened hardship for Nigerians, renews call for opposition unity
• Atiku calls 2025 ‘punishing year’, faults APC governance
President Bola Ahmed Tinubu has declared that 2026 will mark the beginning of a more robust phase of economic growth for Nigeria, saying ongoing reforms are yielding tangible results despite global economic headwinds.
In his New Year goodwill message to Nigerians yesterday, the President said the country closed 2025 on a strong economic footing, with steady growth, declining inflation, improved exchange rate stability and rising investor confidence.
According to him, Nigeria recorded robust gross domestic product growth in every quarter of 2025, with annualised growth expected to exceed 4 per cent. He said inflation declined steadily and fell below 15 per cent, in line with government targets, while trade surpluses were maintained.
Tinubu also said the Nigerian Stock Exchange outperformed many of its peers, posting a 48.12 per cent gain in 2025 and consolidating a bullish run that began in the second half of 2023.
On external buffers, the President said foreign reserves stood at $45.4 billion as of December 29, 2025, providing a firm cushion against external shocks and supporting the naira. He expressed confidence that the position would continue to strengthen in 2026.
He added that foreign direct investment was responding positively to the reform agenda, rising to $720 million in the third quarter of 2025 from $90 million in the preceding quarter, a development he attributed to renewed investor confidence and positive assessments by global credit rating agencies.
The President said his administration would consolidate economic gains in 2026 by deepening fiscal discipline and tax reforms aimed at building a fair, competitive and sustainable revenue base.
He recalled that he recently presented the 2026 Appropriation Bill to the National Assembly, stressing that patience, discipline and unity of purpose were required to place the country on a path of long-term stability and prosperity.
As inflation and interest rates moderate, Tinubu said the government expects increased fiscal space for investment in infrastructure and human capital development.
He also pledged to confront the challenge of multiple taxation across all tiers of government, commending states that have aligned with the national tax harmonisation agenda by adopting harmonised tax laws to reduce the burden of taxes, levies and fees on citizens and businesses.
“The new year marks a critical phase in implementing our tax reforms,” he said, noting that harmonisation would help raise revenue sustainably, correct fiscal distortions and strengthen the country’s capacity to finance infrastructure and social programmes.
FG to intensify security operations, decentralised policing, inclusive growth agenda
On security, the President said economic progress must be matched by peace and stability, acknowledging ongoing threats from criminal and terrorist groups.
He said decisive actions were taken against terrorist targets in parts of the North-West on December 24, in collaboration with international partners, including the United States, adding that the Armed Forces had sustained operations against terrorist networks and criminal strongholds across the North-West and North-East.
Tinubu said security and intelligence agencies would deepen cooperation with regional and global partners in 2026 to eliminate threats to national security.
He reiterated his support for a decentralised policing system with appropriate safeguards, complemented by properly regulated forest guards, as part of a broader strategy to address terrorism, banditry and related challenges.
The President said 2026 would usher in tangible improvements in the lives of Nigerians through inclusive growth and social development.
He announced plans to accelerate the Renewed Hope Ward Development Programme, aimed at bringing at least 10 million Nigerians into productive economic activity by empowering at least 1,000 people in each of the country’s 8,809 wards.
According to him, agriculture, trade, food processing, and mining would be prioritised to stimulate local economies and expand grassroots opportunities.
He also pledged continued investment in infrastructure, including roads, power, ports, railways, airports, pipelines, healthcare, education and agriculture, saying all ongoing projects would continue without interruption to strengthen food security and improve quality of life.
Tinubu called on Nigerians to embrace unity, patriotism, and shared responsibility in the new year, saying that nation-building requires collective effort.
“Let us resolve to be better citizens, better neighbours, and better stewards of our nation,” he said, wishing Nigerians a peaceful, productive and prosperous New Year.
The President also prayed for the safety of Nigeria’s troops and the defeat of those threatening national peace, security and stability.
N’Assembly says 2025 reforms laid foundation for economic recovery
The National Assembly has described 2025 as a defining year for Nigeria, citing wide-ranging reforms in taxation, governance, electoral processes and national security as laying the groundwork for economic recovery in 2026.
In an end-of-year statement, the Senate Leader, Opeyemi Bamidele, said the legislature worked closely with other arms of government to deliver key reforms while maintaining its constitutional independence.
“The year 2025 has been marked by transformative measures in nearly every sector of our economy. From tax reforms to electoral and constitutional adjustments, the groundwork has been laid for a stronger and more prosperous Nigeria,” Bamidele said.
He identified the 2025 Tax Reforms Act as the most consequential legislation passed during the year, noting that the law, which takes effect from January 1, 2026, is expected to harmonise the country’s tax system, eliminate multiple taxation and improve the flow of resources to citizens, particularly those at the lower end of the economic ladder.
Bamidele urged Nigerians to familiarise themselves with the provisions of the new law, stressing that it was designed to address long-standing fiscal and liquidity challenges and to position Nigeria to compete more effectively in the global economy through modern tax administration.
The statement also outlined progress on other legislative priorities. According to the Senate Leader, the review of the 1999 Constitution has reached an advanced stage, with proposed amendments to be transmitted to State Houses of Assembly for consideration. He said the review is aimed at devolving additional powers to sub-national governments to improve governance and service delivery.
On electoral reforms, Bamidele said work on the Electoral Act (Amendment) Bill, 2025, is nearing completion. He noted that the bill seeks to strengthen the credibility and transparency of elections and would be fast-tracked for presidential assent in January 2026.
Addressing national security, the Senate Leader said public hearings for the National Security Summit had been concluded across the six geopolitical zones. The summit, scheduled for the first quarter of 2026 in Abuja, is expected to consolidate recommendations on enhancing internal security, combating violent extremism and strengthening collaboration with international partners.
He also disclosed that consideration of the 2026 Appropriation Bill had progressed to the committee stage, with legislative work continuing through the festive period. According to him, the Senate is expected to resume full deliberations on the budget by January 27, 2026.
Bamidele concluded by calling on Nigerians to support ongoing nation-building efforts and uphold the patriotic ideals of the country’s founders.
“We are on the path of economic recovery, and the reforms of 2025 have laid a solid foundation for a prosperous 2026,” he said.
ADC says 2025 deepened hardship for Nigerians, renews call for opposition unity
The African Democratic Congress (ADC) has described 2025 as a challenging year for most Nigerians, saying the Federal Government’s promised “renewed hope” agenda translated instead into widespread hardship amid a rising cost of living.
The opposition party also expressed sympathy with members of the Armed Forces and other security personnel who lost their lives in the course of duty during the year, extending condolences to their families and urging Nigerians to pray for the fallen.
In a New Year message, the National Chairman of the ADC, David Mark, said necessities such as food, essential medicines and transportation had become unaffordable for many Nigerians, a situation he attributed to what he described as misguided government policies.
According to him, these policies had pushed more citizens into multidimensional poverty, worsening living conditions nationwide.
Mark said: “The year 2025 was, without doubt, a difficult one for the majority of Nigerians. The renewed hope that the government promised yielded more misery and widespread hardship, as citizens battled with an ever-rising cost of living.”
He added that rather than easing the burden on citizens in the new year, the All Progressives Congress (APC)-led Federal Government had opted to impose what he described as stringent taxes that would further compound the suffering of Nigerians already grappling with economic pressures.
“These taxes will not renew hope; they will renew hopelessness,” he said.
While criticising government policies, Mark said 2025 also marked a defining moment for Nigeria’s democracy, recalling the July 2, 2025 announcement of a coalition of opposition parties under the banner of the ADC.
He said the coalition was formed out of necessity to halt what the party described as Nigeria’s gradual slide towards authoritarianism and to offer an alternative to what it termed governance that had failed to reflect the will and welfare of the people.
Mark said the party was conscious of the responsibility such a mission imposed, stressing that the credibility of the ADC-led coalition would depend on its commitment to what he described as a higher standard of politics rooted in patriotism and service.
He acknowledged public scepticism arising from past unfulfilled promises by successive governments but urged Nigerians to look beyond cynicism and engage with the opposition movement.
“We do not claim to be perfect, but do not doubt our sense of duty and our commitment to be on the right side of history,” he said.
Mark appealed to Nigerians not to lose faith in the democratic process, urging them to remain engaged through peaceful participation rather than violence or apathy.
He expressed optimism that 2026 could mark a turning point, saying it could be the year Nigerians begin to reclaim their country and ease the hardships faced by the poor.
Calling for unity and resilience, the ADC chairman encouraged citizens to enter the new year with faith in the power of collective action and the possibility of national renewal.
“Faith in the power of the people. Faith in the possibility of something better. Faith that Nigeria’s story is not yet done,” he said, wishing Nigerians strength, healing and renewed hope in 2026.
Atiku calls 2025 ‘punishing year’, faults APC governance
Former Vice President Atiku Abubakar has described 2025 as “one of the most punishing years in our recent history”, blaming what he called economic hardship, political recklessness and governance without empathy under the ruling All Progressives Congress (APC).
In a statement issued yesterday, Abubakar said the year exposed “the incompetence and policy bankruptcy” of President Bola Tinubu, alleging that the administration governed for months without a functional budget while relying on propaganda and reckless borrowing.
“The past year exposed, in stark terms, the incompetence and policy bankruptcy of President Bola Tinubu. Governing for months without a functional budget, the administration relied on propaganda while borrowing recklessly, pushing the nation to the brink of economic collapse,” the statement read.
Abubakar also accused the APC of deliberately weakening Nigeria’s democratic foundations, alleging efforts to transform the country’s multiparty system into what he described as a de facto one-party state through coercion, intimidation and state capture.
He further claimed that while the government continued to accumulate debt, it falsely asserted that revenue targets had been met, even as insecurity worsened across the country.
“Meanwhile, insecurity worsened dramatically. Kidnappings, abductions, and violent crimes surged, affecting citizens, young and old alike,” he said, adding that lives were lost, livelihoods destroyed, and communities terrorised while official assurances failed to translate into tangible relief.
The former vice president said unemployment, underemployment, labour unrest and the collapse of small businesses defined the year, despite repeated government claims of economic recovery.
“Industries shut down. Workers were sent home. Hunger spread. Suffering became normalised,” the statement said.
Abubakar criticised what he described as the government’s repeated calls for Nigerians to make sacrifices, while accusing political leaders of living extravagantly and remaining insulated from the hardship faced by the population.
According to him, leadership that does not share in the people’s pain amounts to exploitation, and he warned that small businesses—the backbone of job creation—were collapsing as workers lost their jobs.
“The arrogance of this administration is unprecedented. Its contempt for public opinion, its hostility to criticism, and its willingness to punish Nigerians through bad policies reveal a government fundamentally hostile to the people,” he said.
“Never in our recent history have we seen an administration so openly dismissive of public sentiment, so casual in breaking laws, and so reckless with democratic norms.”
The former presidential candidate of the Peoples Democratic Party (PDP) also criticised the Federal Government’s anti-corruption campaign, describing it as selective and politically motivated.
