President Bola Ahmed Tinubu has declared that 2026 marks the beginning of a “more robust phase” of economic growth for Nigeria. In a nationwide address delivered today, Thursday, 01 January 2026, the President transitioned from the “painful but necessary” rhetoric of 2024–2025 to a more optimistic outlook focused on consolidation and shared prosperity.
The speech, titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” outlines a high-stakes roadmap for the final years of his first term.
The President began by defending his administration’s “fiscal reset,” citing key macroeconomic indicators from the outgoing year as evidence that his reforms are working:
GDP Growth: Projected to exceed 4% annually for 2025, despite aggressive anti-inflationary policies.
Inflation: Reached a “steady decline,” dropping to below 15% by December 2025 (in line with the Central Bank’s target).
External Buffers: Foreign reserves surged to $45.4 billion (as of Dec 29, 2025), a 7-year high, providing 10 months of import cover.
Stock Market: The Nigerian Stock Exchange was hailed as a global top-performer, posting a 48.12% gain in 2025.
Investor Confidence: Foreign Direct Investment (FDI) hit $720 million in Q3 2025, up from just $90 million in Q2.
Tinubu’s vision for 2026 moves away from “stabilization” toward “expansion.” He highlighted three key pillars for the new year:
| Strategy | Objective |
| Tax Harmonization | Ending the “burden of multiple taxation” through a unified national framework, commended to states for adoption. |
| Renewed Hope Wards | Aiming to bring 10 million Nigerians into productive activity by empowering 1,000 people in each of the 8,809 wards. |
| Infrastructure Blitz | Sustaining the momentum on the Lagos-Calabar Coastal Highway, the AKK Pipeline, and modernizing national power grids. |
Acknowledging that “economic progress must be accompanied by peace,” the President announced a fundamental redesign of Nigeria’s security architecture:
Unified Command: Establishing a “holistic counter-terrorism doctrine” focused on intelligence-driven operations.
State Policing: Reaffirmed his commitment to a decentralized policing system and properly regulated forest guards.
Airstrike Success: Referenced the decisive December 24 airstrikes in the Northwest as proof of the military’s “sustained operations” against terror networks.
“The path of reform is never easy, but it is necessary… We come with a Budget that consolidates our gains, strengthens our resilience, and turns recovery into improved living standards for every Nigerian household.” – President Bola Tinubu, 01 January 2026.
The message was not met with universal acclaim. Former presidential candidate Dumebi Kachikwu and various northern groups have criticized the timing of the new tax laws, labeling the 2026 rollout “insensitive” to the plight of citizens who are still “clutching at the straw of hope.”
There are ongoing calls for a suspension of the laws pending the resolution of “national fraud” allegations regarding legislative discrepancies.
