‘Inflation Below 15%’: Tinubu Projects Stronger Economic Growth in 2026 New Year Address
President Bola Tinubu has declared 2026 as the dawn of a “more robust phase” of economic prosperity for Nigeria, projecting sustained GDP growth and a further decline in inflation rates.
In his New Year address to the nation on Thursday, January 1, 2026, the President highlighted the successes of his administration’s reforms in the past year, stating that the country has successfully navigated the most difficult phase of its economic restructuring.
President Tinubu announced that Nigeria ended 2025 on a “strong economic footing,” defying global headwinds to record tangible gains.
He disclosed that annualized Gross Domestic Product (GDP) growth for 2025 is expected to exceed 4 percent, driven by robust performance across key sectors.
On the critical issue of the cost of living, the President noted that his administration’s monetary policies had successfully reined in inflation.
“Inflation declined steadily to below 15 percent, in line with our administration’s target,” Tinubu stated. “In 2026, we are determined to reduce inflation further and ensure that the benefits of reform reach every Nigerian household.”
The President also highlighted the strengthening of the nation’s external buffers, revealing that foreign reserves stood at $45.4 billion as of December 29, 2025.
He noted that the Nigerian Stock Exchange (NSE) had outperformed its peers, posting a gain of 48.12 percent in 2025, which he cited as evidence of returning investor confidence.
Looking ahead, President Tinubu emphasized that 2026 would be a year of “consolidation.” A central pillar of this phase will be the implementation of the new tax laws, which took effect on January 1, 2026.
Despite criticism from opposition quarters regarding the timing of the tax reforms, the President maintained that the changes are essential for a fair fiscal environment.
“The new year marks a critical phase in implementing our tax reforms, designed to build a fair, competitive, and robust fiscal foundation for Nigeria.
“By harmonising our tax system, we aim to raise revenue sustainably, address fiscal distortions and strengthen our capacity to finance infrastructure,” he said.
Addressing national security, Tinubu referenced the recent joint military operations in the North-West, specifically the decisive airstrikes on terrorist targets on December 24, 2025.
He assured Nigerians that security agencies would deepen cooperation with regional and global partners to eliminate threats.
On social welfare, the President pledged to accelerate the Renewed Hope Ward Development Programme, with an ambitious target to bring at least 10 million Nigerians into productive economic activity by empowering 1,000 people in each of the country’s 8,809 wards.
“We must stand together in unity and purpose,” Tinubu urged in his concluding remarks. “Let us resolve to be better citizens, better neighbours, and better stewards of our nation.”
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