Tinubu Forecasts Stronger Growth, Says Economy Turning the Corner in 2026

 

President Bola Ahmed Tinubu has expressed strong optimism about Nigeria’s economic outlook, projecting 2026 as a year of firmer and more resilient growth driven by sustained reforms and improving macroeconomic indicators.

In his New Year address to the nation, the President said recent data point to a gradual economic turnaround, citing moderating inflation, improved foreign reserves, rising investment inflows and steady GDP expansion as signs that government policies are yielding results.

According to him, Nigeria’s Gross Domestic Product (GDP) growth is expected to exceed four per cent in 2025, with projections of about 4.49 per cent in 2026. He added that inflation, which has been a major concern for households and businesses, is projected to decline to about 12.94 per cent in 2026, largely on the back of easing food prices and lower fuel costs.

President Tinubu disclosed that the nation’s external reserves stood at $45.4 billion as of December 29, 2025, and are projected to rise to about $51.04 billion in 2026, providing a stronger buffer against external shocks and supporting exchange rate stability.

He also noted that foreign direct investment (FDI) rebounded significantly, rising to $720 million in the third quarter of 2025 from $90 million in the previous quarter, a development he attributed to renewed investor confidence and positive assessments by global credit rating agencies.

The President said the Nigerian Exchange Limited recorded impressive performance in 2025, posting a gain of over 48 per cent, underscoring growing confidence in the economy.

On fiscal management, Tinubu reaffirmed his administration’s commitment to discipline and reform, particularly in the area of taxation. He said efforts are ongoing to harmonise taxes across all tiers of government to reduce multiple taxation and ease the burden on citizens and businesses.

He added that the 2026 budget is designed to expand infrastructure investment, strengthen human capital development and create the fiscal space needed for inclusive growth as inflation and interest rates moderate.

Addressing security concerns, the President said economic progress must go hand in hand with peace and stability. He noted that security agencies, working with international partners, recorded gains against terrorist and criminal networks in parts of the country and would intensify operations in 2026.

Tinubu also reiterated his support for decentralised policing, supported by proper safeguards and accountability, as part of broader efforts to tackle terrorism, banditry and other security challenges.

On social and inclusive development, he said the Renewed Hope Ward Development Programme would be accelerated in 2026, with plans to empower at least 10 million Nigerians through agriculture, trade, food processing and mining across the country’s wards.

He assured Nigerians that ongoing investments in roads, power, rail, ports, healthcare, education and agriculture would continue without interruption to improve living standards and strengthen food security.

The President urged Nigerians to remain united and patient, stressing that nation-building is a collective responsibility.

“I am confident that with discipline, unity of purpose and shared sacrifice, Nigeria will emerge stronger and better positioned for sustained growth,” he said, while wishing citizens a peaceful and prosperous New Year.