Tough reforms necessary for Nigeria’s stability and growth, says Tinubu

By Kunle Sanni –

President Bola Tinubu has reiterated that his administration will stay the course on economic reforms despite the challenges, saying the reform process is difficult but unavoidable.

In his New Year address to Nigerians on Thursday, the President said, “The path of reform is never easy, but it is necessary,” stressing that meaningful economic progress must be matched with improved security and sustained peace.

He noted that addressing multiple taxation is a core part of the reform agenda aimed at easing pressure on citizens and businesses.

Tinubu recalled that he recently presented the 2026 Appropriation Bill to the National Assembly, where he highlighted reforms already undertaken by his administration to stabilise the economy and prepare the country for long-term growth.

“With patience, fiscal discipline and unity of purpose, Nigeria will emerge in 2026 stronger and better positioned for sustained growth,” he said.

The President said ongoing reforms are beginning to yield results, with inflation and interest rates showing signs of moderation.

According to him, this would create more fiscal space for productive investment in infrastructure and human capital development.

He added, “We are also confronting the challenge of multiple taxation across all tiers of government,” noting that excessive taxes, levies and fees have placed a heavy burden on Nigerians.