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)