President Bola Ahmed Tinubu has assured Nigerians that inflation will drop further in 2026, as his administration consolidates economic reforms aimed at stabilising prices and strengthening growth.
The President gave the assurance in his New Year goodwill message to Nigerians on Wednesday, January 1, 2026, where he said inflation had already declined steadily in 2025 and would be pushed down further in the new year to ensure the benefits of reforms reach households across the country.
According to Tinubu, Nigeria closed 2025 on a strong economic note despite global headwinds, with inflation declining to below 15 per cent in line with the government’s target.
“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,” the President said.
Nigeria’s headline inflation rate moderated to 14.45% in November 2025, marking a significant slowdown from the 16.05% recorded in October 2025, according to the National Bureau of Statistics (NBS).
Addressing Nigerians further, Tinubu noted that the moderation of inflation was achieved alongside steady economic growth, with Nigeria recording robust GDP growth in every quarter of 2025 and annualised growth expected to exceed four per cent for the year.
Linking the easing inflationary trend to improved macroeconomic indicators, including trade surpluses and greater exchange rate stability, he said the government intends to strengthen them (microeconomic indicators) further in 2026.
Tinubu disclosed that Nigeria’s foreign reserves stood at $45.4 billion as of December 29, 2025, providing what he described as a substantial buffer against external shocks to the naira, adding that the position is expected to improve in the new year.
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On fiscal policy, the President said his administration remains focused on fiscal discipline and tax reforms as inflation and interest rates begin to moderate.
“As inflation and interest rates moderate, we expect increased fiscal space for productive investment in infrastructure and human capital development,” he said.
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On the issue of multiple taxation, Tinubu stated that efforts are ongoing to harmonise taxes across all tiers of government to reduce the burden on citizens and basic consumption.
He commended states that have adopted harmonised tax laws in line with the national tax reform agenda.
The President described 2026 as a critical phase in the implementation of tax reforms aimed at building a fair and competitive fiscal system that can sustainably raise revenue and finance infrastructure and social investments.
While reiterating that the economic reforms undertaken in 2025, the President said, though difficult, were necessary and are beginning to yield measurable results, particularly in inflation control and macroeconomic stability.
Tinubu expressed confidence that with patience, discipline, and unity of purpose, Nigeria will emerge in 2026 stronger and better positioned for sustained growth.
