2026: Tinubu Insists Sweeping Tax Reforms Intact, Vows Fairer System and Stronger Revenue Base
President Bola Ahmed Tinubu has assured Nigerians that 2026 marks the beginning of a more robust phase of economic growth, anchored on sustained reforms, fiscal discipline, improved security architecture and inclusive development across the country.
In his New Year message to the nation on January 1, 2026, the President said his administration would consolidate the gains recorded in 2025 despite global economic headwinds, stressing that the “difficult but necessary reforms” embarked upon were already yielding tangible results for the economy and laying a solid foundation for long-term prosperity.
Economic gains, outlook for 2026
Reviewing the past year, President Tinubu disclosed that Nigeria closed 2025 on a strong economic footing, recording robust GDP growth across all quarters, with annualised growth projected to exceed four per cent.
According to him, inflation declined steadily to below 15 per cent, exchange rate stability improved, and Nigeria maintained trade surpluses, reflecting the impact of sound fiscal and monetary coordination.
He also highlighted the impressive performance of the Nigerian Stock Exchange, which posted a 48.12 per cent gain in 2025, consolidating a bullish run that began in the second half of 2023.
On external buffers, the President said Nigeria’s foreign reserves stood at $45.4 billion as of December 29, 2025, providing a strong shield against external shocks and supporting the stability of the naira, with expectations of further improvement in 2026.
Foreign Direct Investment, he added, responded positively to the reform agenda, rising sharply 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 such as Moody’s, Fitch and Standard & Poor’s.
Fiscal discipline, tax reforms
President Tinubu reiterated his commitment to fiscal discipline and tax reforms, describing them as critical pillars for sustainable growth.
He recalled that he recently presented the 2026 Appropriation Bill to the National Assembly, noting that the budget reflects reforms designed to stabilise the economy, expand fiscal space and channel resources into infrastructure and human capital development.
The President acknowledged the burden of multiple taxation on citizens and businesses, commending states that have aligned with the national tax harmonisation agenda to reduce excessive levies.
According to him, the implementation of tax reforms in 2026 will focus on building a fair, competitive and efficient tax system capable of raising revenue sustainably, correcting fiscal distortions and financing critical social and infrastructure investments.
Security and national stability
On security, President Tinubu admitted that the nation continues to face threats from criminal and terrorist elements but assured Nigerians of decisive action.
He disclosed that in collaboration with international partners, including the United States, targeted operations were carried out against terrorist enclaves in parts of the North-West on December 24, with sustained military operations ongoing across the North-West and North-East.
Looking ahead, the President said security and intelligence agencies would deepen cooperation with regional and global partners in 2026 to eliminate threats to national security.
He also reaffirmed his belief in decentralised policing with appropriate safeguards, complemented by properly regulated forest guards, as a viable strategy to tackle terrorism, banditry and related crimes.
Inclusive growth, grassroots development
President Tinubu announced that 2026 would usher in a more inclusive phase of economic growth, with visible improvements in the lives of ordinary Nigerians.
He revealed plans to accelerate the Renewed Hope Ward Development Programme, targeting the empowerment of at least 1,000 persons in each of Nigeria’s 8,809 wards, with the aim of bringing no fewer than 10 million Nigerians into productive economic activity.
The programme, he said, would focus on agriculture, trade, food processing and mining to stimulate local economies and expand grassroots opportunities.
He further assured that investments in critical infrastructure—roads, power, ports, railways, airports, pipelines, healthcare, education and agriculture—would continue uninterrupted to strengthen food security and improve quality of life.
Call for unity
In a call for national unity, President Tinubu stressed that nation-building remains a shared responsibility, urging Nigerians to uphold patriotism, integrity and collective purpose.
“As we pursue our objectives in 2026, we must stand together as better citizens, better neighbours and better stewards of our nation,” he said.
The President further wished Nigerians a peaceful, productive and prosperous New Year, praying for continued divine protection for the country and its armed forces.
“May God bless and protect our beloved country and destroy all forces bent on disrupting our national peace, security and stability,” he added.
EDITOR
Sam Udekwe is a journalist working in the News and Current Affairs department, Enugu State Broadcasting Service (ESBS) Enugu. He is well trained in all genres of journalistic venture.
Mr Sam read Mass Communication, graduating all with Distinction in National Diploma, Higher National Diploma and Postgraduate Diploma at IMT, Enugu and Madonna University, Okija, Anambra state, as well as M.Sc Mass Communication at National Open University of Nigeria.
He is the immediate past NUJ Chairman, Enugu state.
samowailo@gmail.com
