The Leader of the Senate, Senator Opeyemi Bamidele, has posited that Nigeria is now “ripe for full recovery” following a year of sweeping reforms across key sectors of the economy.
Bamidele gave the position in a New Year message released on Wednesday, reflecting on 2025, which he described as “a truly defining year”.
According to him, the National Assembly had worked closely with other arms of government to enact measures ranging from tax reform to constitutional review, while maintaining its independence.
“The enactment of the 2025 Tax Reforms Act, for instance, is perhaps the most consequential of all these reforms,” he stated.
“Its core intention is to introduce a cohesive tax regime that will, from 1 January 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 Senate Leader dismissed opposition criticism of the reforms, insisting they were designed to stabilise Nigeria’s fiscal position.
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“The Act does not represent the gloomy picture the opposition forces are painting.
“Rather, it is a progressively structured response that 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,” he said.
Bamidele urged citizens to study the new law carefully and embrace its objectives.
“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,” he added.
On constitutional and electoral reforms, the Senate Leader confirmed that the review of the 1999 Constitution was at an advanced stage, with proposals set to be transmitted to State Houses of Assembly in early 2026.
“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,” he said, noting that final approval would rest with state legislatures.
He also highlighted progress on the Electoral Act (Amendment) Bill 2025, designed to enhance transparency in Nigeria’s elections.
“As soon as we resume plenary in January 2026, we will fast track the process and transmit it to the President… for presidential assent,” he confirmed.
Addressing security and budget priorities, Bamidele revealed that preparations for a National Security Summit were nearing completion.
This, according to him, followed public hearings across Nigeria’s six geopolitical zones.
He pointed out that the summit, scheduled for the first quarter of 2026, would “deepen national security by ensuring internal stability across the federation”.
On fiscal matters, he said the 2026 Appropriation Bill was at the committee stage, with lawmakers working “day and night” despite the festive period.
According to him, the National Assembly is expected to reconvene on 27 January to deliberate on the budget defence.
Concluding his New Year message, Bamidele appealed for national unity and patriotism.
“We are now on the path of economic recovery, which will start manifesting in the New Year,” he said.
“I encourage you all to join forces with the governments in the task of nation-building… bearing in mind that Nigeria shall be greater than we met it.”
