Senate Leader Opeyemi Bamidele has declared that Nigeria is now positioned for a complete economic turnaround, following a year of extensive governmental reforms. He described 2025 as a pivotal year that set the stage for national renewal.
Tax Reform as a Cornerstone for Growth
In a New Year's statement, Bamidele highlighted the 2025 Tax Reforms Act as the most significant achievement. He explained that the new law, effective from 1 January 2026, aims to create a unified tax system. This move is designed to eliminate the burden of multiple taxes and ultimately improve living standards, particularly for the most vulnerable citizens.
The Senate Leader directly addressed critics of the reforms, dismissing opposition claims. "The Act does not represent the gloomy picture the opposition forces are painting," he stated. He framed it as a strategic solution to long-standing fiscal and liquidity challenges, comparing its potential benefits to the removal of the petroleum subsidy. Bamidele urged all Nigerians to thoroughly study the new law rather than make quick judgments.
Constitutional and Electoral Changes on the Horizon
Bamidele confirmed that the review of the 1999 Constitution is in its final stages. Proposals are scheduled to be sent to State Houses of Assembly in early 2026, with the goal of concluding the process before mid-2026. The key objective is to devolve more functional powers to state governments, pending approval by state legislatures.
On electoral matters, the Electoral Act (Amendment) Bill 2025 is set for fast-tracking. Bamidele confirmed that upon the National Assembly's resumption of plenary in January 2026, the bill will be sent to the President for assent, aiming to enhance transparency in future elections.
Focus on Security and the 2026 Budget
Regarding national safety, preparations for a National Security Summit are nearly complete. The summit, planned for the first quarter of 2026, follows public hearings across the nation's six geopolitical zones. It aims to strengthen internal stability nationwide.
On fiscal planning, Bamidele revealed that the 2026 Appropriation Bill is currently at the committee stage. Lawmakers are working intensively, even during the festive period. The National Assembly will reconvene on 27 January to deliberate on budget defences from various ministries and agencies.
In his concluding message, Bamidele appealed for unity and patriotism. "We are now on the path of economic recovery, which will start manifesting in the New Year," he asserted. He encouraged citizens to collaborate with the government in nation-building, expressing confidence that Nigeria would emerge stronger.
