By Nathaniel Zaccheus, Abuja
Leader of the Senate, Senator Opeyemi Bamidele, has said Nigeria is firmly on course for economic recovery in 2026, assuring Nigerians that recently enacted tax reforms will eliminate multiple taxation and ease hardship as their benefits begin to take effect.
Bamidele, in his New Year message to Nigerians on Wednesday, described 2025 as a defining year marked by sweeping reforms undertaken by the National Assembly in collaboration with other arms of government.
According to him, the year witnessed landmark legislative interventions across fiscal policy, constitutional amendments, electoral reforms, national security, and budgetary discipline, all of which have positioned the country to record measurable economic gains in the New Year.
The Senate Leader identified the 2025 Tax Reforms Act as the most far-reaching reform, noting that the new law would take effect on January 1, 2026, and would end the long-standing challenge of multiple taxation by introducing a cohesive, modern tax regime.
He explained that the law was designed to improve the welfare of ordinary Nigerians, particularly those at the lower rungs of the economic ladder, contrary to claims by some opposition figures that it would aggravate hardship.
The statement read in part, “The Tax Reforms Act does not represent the gloomy picture being painted in some quarters.
“It is a progressive response to Nigeria’s long-standing fiscal and liquidity challenges, and Nigerians will soon begin to reap its benefits, just as they did with the removal of petroleum subsidy.”
He urged Nigerians to study the provisions of the new law rather than rely on misinformation, stressing that its guiding principle was to expand government revenue in a manner that places a greater burden on the wealthy, while using the proceeds to support the poor and fund strategic infrastructure.
Bamidele said the reforms reflected the National Assembly’s commitment to protecting citizens’ interests while ensuring that Nigeria aligns with global best practices in governance and economic management.
Reaffirming the Senate’s support for President Bola Ahmed Tinubu’s Renewed Hope Agenda, he insisted that the legislature would continue to exercise its constitutional responsibility of oversight and checks and balances.
“We are not a rubber-stamp parliament. In 2026 and beyond, the Senate will continue to guide and advise other arms of government in the overall interest of the Nigerian people,” he said.
On constitutional amendment, Bamidele disclosed that the review of the 1999 Constitution had reached an advanced stage, with proposed amendments expected to be transmitted to State Houses of Assembly soon.
He expressed optimism that the exercise, which seeks to devolve more powers to sub-national governments and deepen federalism, would be concluded before the end of the first half of 2026, subject to the approval of state legislatures.
The Senate Leader also revealed that the Electoral Act (Amendment) Bill, 2025, was nearing completion and would be fast-tracked for presidential assent early in 2026.
According to him, the proposed amendments are aimed at enhancing the credibility, transparency and integrity of Nigeria’s electoral process in line with contemporary political realities.
On national security, Bamidele said preparations for a National Security Summit had reached an advanced stage, following public hearings conducted across the six geopolitical zones.
He said the summit, scheduled for the first quarter of 2026 in Abuja, would complement existing government efforts and strengthen collaboration with international partners in tackling insecurity and violent extremism.
Bamidele further disclosed that work on the 2026 Appropriation Bill was ongoing at the committee level, with lawmakers working through the festive period to ensure the timely passage of the budget.
He added that the National Assembly would reconvene on January 27 to consider reports from budget defence sessions, barring unforeseen circumstances.
Expressing optimism about the New Year, Bamidele said Nigeria had entered a phase where the gains of recent reforms would begin to manifest, calling on citizens to support government policies and remain committed to nation-building.
“We are on the path to recovery. Together, with shared sacrifice, unity and patriotism, Nigeria will be greater than we met it,” he said.
