…Improved Welfare Of Ordinary Nigerians
President Bola Tinubu has promised that his administration would continue to consolidate on the modest achievements of his administration’s fiscal and monetary policies with a view to sustaining the slowdown in the nation’s inflation rate this year ensuring that the benefits of ongoing economic reforms reach every Nigerian household.
Tinubu, who made the promise in his New Year’s message to Nigerians on Thursday, recalled that Nigeria recorded some economic gains despite global economic headwinds in 2025, including the moderation of the inflation rate below the government’s target.
He maintained that inflation declined steadily and reached below 15% in line with the government’s target in 2025, adding that his administration is determined to reduce inflation further and ensure that the benefits of reform reach every Nigerian household in 2026.
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Reflecting broadly on the 2025 economic highlights, Tinubu said his administration sustained momentum on major reforms, including a fiscal reset that helped stabilise the economy.
According to him, the gains recorded reaffirm the administration’s belief that the reforms, though difficult, are moving Nigeria in the right direction, with improved benefits expected for ordinary citizens.
The President said: “These achievements reaffirm our belief that the difficult but necessary reforms we embarked upon are moving us in the right direction.
“Despite the policies to fight inflation, Nigeria recorded a robust GDP growth each quarter. We maintained trade surpluses and achieved greater exchange rate stability”, Tinubu added
The President also spoke on the performance of the capital market, noting that the Nigerian Stock Exchange recorded a 48.12% gain in 2025, consolidating on the positive momentum that started from the second half of 2023.
Tinubu, who attributed Nigeria’s improved external position to sound monetary policies, said that Nigeria’s foreign reserves stood at $45.4 billion as of December 29, 2025, providing a substantial buffer against external shocks for the Naira, adding that the position is expected to strengthen further in the new year.
Similarly, he also spoke on the rise in foreign direct investment (FDI) inflows into the country, which surged to $720 million in Q3 2025, compared to $90 million in the preceding quarter, saying the trend indicates renewed investor confidence as has been affirmed by global credit rating agencies, including Moody’s, Fitch, and Standard & Poor’s.
Moving forward, Tinubu restated his administration’s commitment to fiscal discipline in the 2026 Appropriation Bill recently presented to the National Assembly.
While noting that moderation in inflation and interest rates will create fiscal space for increased investment in infrastructure and human capital development, the President also spoke on the challenge of multiple taxation praised state governments that had harmonized their tax laws with the national tax harmonisation agenda to reduce the excessive burden of taxes, levies, and fees on ordinary Nigerians and on basic consumption.
Tinubu described 2026 as marking a critical phase in implementing tax reforms aimed at building a fair, competitive, and robust fiscal foundation for the country, assuring that this year will mark a more robust phase of economic growth with tangible improvements in citizens’ lives.
According to him, his administration will accelerate the implementation of the Renewed Hope Ward Development Programme to bring at least 10 million Nigerians into productive economic activity and will also target the empowerment of at least 1,000 people in each of Nigeria’s 8,809 wards.
Tinubu promised that the government would continue investing in agriculture, trade, food processing, mining, and critical infrastructure, including roads, power, ports, railways, airports, healthcare, and education to improve the socioeconomic wellbeing of the citizens and sustain the improved performance of the economy.
