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Tinubu: Nigeria to Build on Economic Reforms, Cut Inflation Further in 2026 (Full Speech)
Tinubu: Nigeria to Build on Economic Reforms, Cut Inflation Further in 2026 (Full Speech)
President Bola Ahmed Tinubu has said his administration will prioritise consolidating Nigeria’s recent economic gains in 2026, with a renewed focus on building a resilient, inclusive and growth-oriented economy that delivers tangible benefits to Nigerians.
In his New Year address, Tinubu said Nigeria closed 2025 on a strong footing despite global economic headwinds, recording robust quarterly GDP growth, improved trade balances, greater exchange rate stability, and a steady decline in inflation to below 15 per cent.
The President noted that the Nigerian Stock Exchange (NGX) outperformed its peers in 2025, posting a 48.12 per cent gain, while the government remains committed to further reducing inflation and ensuring that the benefits of ongoing reforms reach households across the country.
According to him, Nigeria’s foreign reserves stood at $45.4 billion as of December 29, 2025, providing a strong buffer against external shocks to the naira, with expectations of further improvement in 2026.
Tinubu also highlighted renewed investor confidence, disclosing that foreign direct investment (FDI) rose to $720 million in the third quarter of 2025, up from $90 million in the preceding quarter. He said Nigeria’s economic direction has continued to earn positive assessments from global credit rating agencies, including Moody’s, Fitch and Standard & Poor’s.
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On fiscal discipline and tax reform, the President said his administration is implementing harmonised tax laws to curb multiple taxation and ease the burden on citizens and businesses. He described 2026 as a critical year for implementing tax reforms aimed at raising revenue sustainably, correcting fiscal distortions, and financing infrastructure and social investments.
Addressing security challenges, Tinubu said economic progress must go hand in hand with peace and stability. He disclosed that Nigerian security forces, working with international partners, carried out decisive actions against terrorist targets in the Northwest in December, with sustained operations continuing across the Northwest and Northeast.
The President reiterated his support for a decentralised policing system, complemented by properly regulated forest guards, to more effectively tackle terrorism, banditry and criminality.
On inclusive growth and social development, Tinubu said the government will accelerate the Renewed Hope Ward Development Programme, targeting the empowerment of at least 10 million Nigerians by supporting 1,000 people in each of the country’s 8,809 wards through agriculture, trade, mining and food processing.
He assured Nigerians that investments in infrastructure, including roads, power, ports, railways, healthcare, education and agriculture, would continue without interruption in 2026.
Calling for national unity, the President urged Nigerians to embrace patriotism and shared responsibility, stressing that nation-building requires collective effort.
“I wish you all a peaceful, productive and prosperous New Year,” Tinubu said, praying for continued peace, security and stability across the country.
See the full speech below:
Fellow Compatriots,
I welcome you all to 2026, with gratitude to God and confidence in our collective resolve that this new year will be a more prosperous one for our nation, our citizens, and all who call Nigeria home.
During 2025, we sustained the momentum on our major reforms. We had a fiscal reset and also recorded steady economic progress. Despite persistent global economic headwinds, we recorded tangible and measurable gains, particularly in the economy.
These achievements reaffirm our belief that the difficult but necessary reforms we embarked upon are moving us in the right direction with more concrete results on the horizon for the ordinary Nigerian.
𝐄𝐜𝐨𝐧𝐨𝐦𝐢𝐜 𝐏𝐫𝐨𝐠𝐫𝐞𝐬𝐬 𝐚𝐧𝐝 𝐎𝐮𝐭𝐥𝐨𝐨𝐤
As we enter 2026, our focus is on consolidating these gains and continuing to build a resilient, sustainable, inclusive, and growth-oriented economy.
We closed 2025 on a strong note. Despite the policies to fight inflation, Nigeria recorded a robust GDP growth each quarter, with annualised growth expected to exceed 4 per cent for the year. We maintained trade surpluses and achieved greater exchange rate stability. Inflation declined steadily and reached below 15 per cent, in line with our target. In 2026, we are determined to reduce inflation further and ensure that the benefits of reform reach every Nigerian household. In 2025, the Nigerian Stock Exchange outperformed its peers, posting a robust 48.12 per cent gain and consolidating its bullish run that began in the second half of 2023.
Tinubu: Nigeria to Build on Economic Reforms, Cut Inflation Further in 2026 (Full Speech)
News
Kwankwasiyya Urges US Congress to Drop Kwankwaso’s Name from Bill
Kwankwasiyya Urges US Congress to Drop Kwankwaso’s Name from Bill
The Kwankwasiyya movement has called on the United States Congress to remove the name of former Kano State governor and NNPP leader, Rabiu Musa Kwankwaso, from a proposed legislative bill currently under consideration.
In a strongly worded statement, leaders of the Kwankwasiyya movement described the inclusion of Kwankwaso’s name in the proposed US bill as “misleading and politically motivated,” insisting that the former presidential candidate has no connection to the issues referenced in the draft legislation.
The group said linking Kwankwaso to the bill could create diplomatic misunderstandings and damage his international reputation.
“We urge the United States Congress to immediately remove the name of Rabiu Musa Kwankwaso from the proposed bill. He has no involvement whatsoever in the matters cited, and such reference is unfair and unjustified,” the statement read.
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The movement further argued that Kwankwaso, who contested the 2023 presidential election under the New Nigeria Peoples Party (NNPP), has consistently promoted democratic values, peaceful political engagement, and national development.
According to the group, associating him with any controversial legislative move abroad amounts to political mischief and an attempt to tarnish his image ahead of future political activities.
The Kwankwasiyya movement also called on diplomatic channels to clarify the matter and prevent what it described as the internationalisation of domestic political disagreements.
As of the time of filing this report, there has been no official response from the US Congress regarding the demand, nor has the full content of the proposed bill been publicly detailed.
Kwankwaso remains a prominent political figure in Nigeria and leader of the Kwankwasiyya movement, with a strong support base particularly in Kano and parts of northern Nigeria.
Kwankwasiyya Urges US Congress to Drop Kwankwaso’s Name from Bill
News
Drama at NASS as Works Minister, Oshiomhole Clash During Budget Defence
Drama at NASS as Works Minister, Oshiomhole Clash During Budget Defence
Tempers flared at the National Assembly on Wednesday as Minister of Works, David Umahi, clashed with Senator Adams Oshiomhole during the defence of the Federal Ministry of Works’ 2026 budget proposal, turning what was expected to be a routine legislative exercise into a heated confrontation.
The dramatic exchange occurred before the Joint Senate and House of Representatives Committees on Works, where Umahi appeared to defend the ministry’s multi-trillion naira allocation for the 2026 fiscal year. Lawmakers had raised concerns over road contracts, funding gaps, and the prioritisation of major infrastructure projects across the country.
In a video that has since gone viral, Umahi was seen confronting Oshiomhole after the Edo North senator questioned aspects of the ministry’s spending and contract decisions.
“You can’t use foul language on me. I’m a distinguished Nigerian,” Umahi fired back during the tense exchange.
The clash reportedly stemmed from scrutiny over the handling of major federal road projects, including the strategic Abuja–Kaduna–Zaria–Kano highway, as well as broader issues of procurement transparency and value for money.
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The 2026 proposal presented by the ministry includes significant allocations for the completion of ongoing federal highways and legacy infrastructure projects. Umahi disclosed that the Federal Government currently owes contractors trillions of naira for certified works executed in previous years, a situation he said has slowed the pace of delivery on some projects.
As the exchange escalated, Senator Rufai Sani Hanga (Kano Central) cautioned the minister over his choice of words.
According to him, “You are just two months Senator, Mr Umahi,” in a remark that further heightened tension in the chamber.
The session briefly descended into disorder as lawmakers exchanged words over procedural issues and speaking rights, prompting senior members of the committee to intervene and restore order.
In defending his stewardship of the ministry, Umahi maintained that the 2026 Works budget is designed to accelerate the rehabilitation and reconstruction of critical road corridors nationwide. He also challenged lawmakers to personally inspect ongoing projects, insisting that the quality of work would justify the allocations.
The confrontation highlights growing pressure on the Ministry of Works over road infrastructure funding, contract awards, and accountability in project execution, particularly as Nigeria grapples with fiscal constraints and mounting public expectations.
Despite the heated exchanges, Oshiomhole was eventually allowed to continue his contribution to the budget debate, and proceedings moved forward after interventions from other lawmakers.
The incident underscores the intensity of legislative oversight surrounding the 2026 federal budget, especially in sectors with heavy capital expenditure such as works and infrastructure.
Drama at NASS as Works Minister, Oshiomhole Clash During Budget Defence
News
Tinubu Nominates Ismail Abba Yusuf as NAHCON Chairman, Seeks Senate Confirmation
Tinubu Nominates Ismail Abba Yusuf as NAHCON Chairman, Seeks Senate Confirmation
President Bola Ahmed Tinubu has nominated Ambassador Ismail Abba Yusuf as the new Chairman and Chief Executive Officer of the National Hajj Commission of Nigeria (NAHCON), subject to confirmation by the Senate.
The nomination was formally conveyed in a letter addressed to Senate President Godswill Akpabio on Wednesday, in line with Section 3(2) of the NAHCON Act, 2006, which mandates Senate approval before the appointment can take effect. The President urged lawmakers to expedite the confirmation process to ensure stability and continuity at the commission, especially as preparations for the 2026 Hajj exercise gather momentum.
The development follows the resignation of Professor Abdullahi Usman, who stepped down earlier this week after about 14 months in office as NAHCON Chairman. Although official details surrounding his resignation were not fully disclosed, his tenure was marked by efforts to reposition the commission and enhance coordination of Hajj operations for Nigerian pilgrims.
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His exit comes at a sensitive period when logistical planning, airlift arrangements, accommodation coordination, and pilgrim welfare services for the upcoming Hajj are intensifying. Stakeholders in the Hajj industry have emphasized the importance of swift leadership confirmation to avoid disruptions in preparations.
Ambassador Ismail Abba Yusuf is a seasoned Nigerian career diplomat who served as Nigeria’s Ambassador Extraordinary and Plenipotentiary to Türkiye from 2021 to 2024. During his diplomatic assignment, he played key roles in strengthening bilateral relations and advancing Nigeria’s foreign policy objectives.
If confirmed by the Senate, Yusuf will assume responsibility for overseeing Nigeria’s Hajj and Umrah operations, including the welfare and coordination of thousands of Nigerian pilgrims traveling annually to Saudi Arabia. The National Hajj Commission of Nigeria (NAHCON) is the statutory body responsible for organizing, supervising, and regulating Hajj and Umrah activities for Nigerian Muslims, as well as ensuring their welfare in Saudi Arabia.
The Senate is expected to schedule a confirmation hearing where Ambassador Yusuf will be screened by lawmakers. Upon approval, he will formally assume office as NAHCON Chairman, taking charge of preparations for the 2026 Hajj season.
The nomination is seen as part of broader efforts by the Tinubu administration to strengthen key institutions and ensure effective service delivery in religious affairs management.
Tinubu Nominates Ismail Abba Yusuf as NAHCON Chairman, Seeks Senate Confirmation
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