2026: FROM REFORMS TO RECOVERY 

OPEYEMI BAMIDELE pledges that the Senate will not shirk its responsibilities of guiding and offering necessary advice to other arms of government

We have come to the end of 2025, a truly defining year marked with far-reaching reforms that criss-crossed nearly all strategic sectors of our economy. The Senate, indeed the National Assembly, has collaborated with other arms of government to effect the reforms without any prejudice to our constitutionally guaranteed independence. In the 2025 financial year, we have achieved quite a lot in enacting a new tax regime; ending the culture of multiple budgets; working with key stakeholders to review the 1999 Constitution and in recalibrating our electoral regime to be more credible and transparent.

The enactment of the 2025 Tax Reforms Act, for instance, is perhaps the most consequential of all these reforms. Its core intention is to introduce a cohesive tax regime that will, from January 1, 2026, end the era of multiple taxation and ensure improved life for the citizenry, especially for those at the lowest rung of our national economy.

The Act, duly enacted after multi-levelled consultation with stakeholders across business, political and social interests, does not represent the gloomy picture the opposition forces are painting. Rather, it is a progressively structured response that, we believe, will address fiscal and liquidity crises that have for long undermined our development aspirations. Like the case of petroleum subsidy removal, Nigerians will soon begin to reap the fruits of the tax reforms.

I, therefore, appeal to all my compatriots to buy into the realistic and foreseeable projections of the new tax obligations, which will become effective tomorrow. Rather than take a mere cursory look at its details, Nigerians across all socio-economic strata have the duty to study the Tax Reforms Act and be adequately informed about what they intend to achieve, more importantly as Nigeria aspires to catch up with the rest of the world in modern tax administration.

For us at the National Assembly, we again reaffirm our commitment to nation-building and unalloyed support for the people-centred initiatives driven by the “Renewed Hope Agenda” of President Bola Ahmed Tinubu, GCFR. Away from the rubber stamp narrative, in 2026 and beyond, the Senate will not shirk its responsibilities of guiding and offering necessary advice to other arms of government in line with the principle of checks and balances, and in the overall interest of our nation and its people.

The new tax law was not initiated to inflict economic hardship on ordinary people as being misconstrued in the public space. Rather, it aims to bring more resources to the footsteps of the government at various levels for the delivery of more strategic infrastructure that will translate to economic prosperity for generations to come. Nigerians will recall how it took the current National Assembly several months of painstaking scrutiny and late night meetings before the eventual passage of the proposed tax reform bills.

The import of this is that our dual objectives of ensuring that the interest of ordinary Nigerians are adequately protected and that Nigeria is not lagging behind in modern tax administration were ultimately achieved at the end of the exercise. Rather than falling hook, line and sinker for the deliberate misinformation being peddled about the new reforms by the opposition, I urge every Nigerian to get adequately informed about their ambitious goals and advantages for our collective good, aiming to take more from the rich to cater for the poor in our midst.

We are also committed to delivering a people-centric constitution that will deliver a progressive governance structure to Nigerians. The review of the 1999 Constitution is already at an advanced stage. We are poised to transmit all the proposals to the State Houses of Assembly for consideration. Before the first half of 2026 ends, we should be able to conclude the constitution review that will devolve more functional powers to the sub-national governments. However, this depends on the decisions of the state legislatures to approve all the proposals.

Also, the Electoral Act (Amendment) Bill, 2025 is the stage of completion. The proposal was painstakingly designed to enhance the credibility and transparency of the country’s electoral process. When it becomes effective, the proposed legislation will address the prevailing realities that characterise our political environment. As soon as we resume plenary in January 2026, we will fast track the process and transmit it to the President and Commander-in-Chief of the Armed Forces, His Excellency Bola Ahmed Tinubu, GCFR for presidential assent.

Likewise, the process of the National Security Summit is at its peak. We have concluded public hearings in the country’s six geo-political zones. Stakeholders, at different levels, have made significant recommendations. In the first quarter of 2026, the Summit will be held in Abuja as part of oversight obligations to deepen national security by ensuring internal stability across the federation. The outcome of the Summit, we believe, will complement the subsisting response strategy of the federal government and the ongoing collaboration with our global partners in combating violent extremism that endangers our peaceful coexistence.

On the final note, the 2026 Appropriation Bill is now at the committee stage. It is our foremost priority given its significance to our collective well-being. Despite the festive mood, committees are working on the bill day and night. By January 27, the National Assembly will reconvene again to deliberate on the outcome of the budget defence if any contingency does not arise.

Dear compatriots, we have initiated a number of far-reaching reforms in the overall interests of all. We are now on the path of economic recovery, which will start manifesting in the New Year. As we await the gains of our reforms, thus, I encourage you all to join forces with the governments in the task of nation-building. I also urge you to continue protecting our fatherland with pride; the patriotic ideals handed down to this generation by our founding fathers as we journey through the New Year, bearing in mind that Nigeria shall be greater than we met it.

Happy New Year, Dear Compatriots

Senator Bamidele, CON,

Leader of the 10th Senate,

Federal Republic of Nigeria.