2026: Nigerians look ahead to the New Year with hope

•As govt taxes fuel, other services, Nigerians plan to cut down spendings

As the curtains of 2025 gradually flip over, Sunday Tribune speaks with Nigerians on their expectations for the New Year and how they plan to navigate the year successfully despite palpability of FG’s policy. IFEDAYO OGUNYEMI and SUCCESS GBADEYAN report.

AS the year 2025 winds down, the feeling among millions of Nigerians is a mix of hope, apprehension and resilience, particularly on the certainties and uncertainties the New Year offers in terms of political and economic stability, peace, security and developmental growth.

Nigerians, across markets, offices, local and advanced communities, are asking similar questions. One key question on the minds of many is whether there’s a path to better livelihoods despite policy uncertainty.

More importantly, Nigerians are equally asking if their households can withstand the pressure mounted on by the new tax policies, expected to kick start in January 2026 and whether such move and other policies from the stable of the government will bring relief from economic hardship to them in the New Year or will the year feel like a test of national endurance.

While economists describe Nigeria in 2025 as a nation in tentative economic recovery, one where the gains remain fragile and uneven, headline inflation figures from the National Bureau of Statistics (NBS) is presently stabilising after years of steep price rises as a result of fuel subsidy removal and currency reforms.

Government figures indicate that inflation, a primary gauge of cost-of-living pressure, eased significantly over much of the year, falling from levels above 24% earlier in January 2025 to under 15% by November 2025.

Yet, everyday reality for millions of Nigerians tells a different story, as structural price pressures, especially on food, transport and fuel and electricity costs, persist, leaving many households still struggling to afford basics.

Many analysts also argued that the impact of declining official inflation data has yet to translate fully into improved living standards. Before the festive season, reports suggested slight reprieve in the prices of items that boosted some purchasing power, yet the costs of staples remained high.

In some communities, traditional meals that once defined cultural warmth during the Yuletide have become symbols of hardship.

The price spiral has directly eroded purchasing power with a World Bank development update highlighting a persistent poverty and slow improvement in the daily lives of average Nigerians, despite some macroeconomic gains.

This is because many low-income households spend up to 70% of their income on food alone. Such scenarios raise existential concerns about savings, healthcare and education access.

An October 2025 projection by the World Bank suggests that Nigeria’s poverty rate could peak around 62% in 2026 before slowly easing toward 61% by 2027, underscoring how deeply entrenched hardship remains.

Fresh uncertainties

For citizens already feeling economic pressure, the government’s policy agenda for 2026, particularly the onset of the implementation of tax reforms, adds layers of uncertainty. The new fiscal year comes with widely discussed tax reforms, including a planned 5% fossil fuel levy on fuel purchases that will begin on January 1, 2026.

Proponents of such policies argue that expanding the tax base is essential for sustainable revenue, reducing dependence on volatile oil earnings and funding critical public services. Critics, however, worry that more levies will squeeze already fragile household budgets. Adding to public debate is the N58.18 trillion national budget proposal for 2026, which projects a budget deficit of about 4.28% of GDP while emphasising capital projects in infrastructure, education and security. Officials have highlighted forecasted improvements in inflation and foreign reserves as justification for continued reform.

Nigerians speak

To understand real expectations for the New Year amid the uncertainties that the year and the country’s situation and policies bring, Sunday Tribune spoke with Nigerians from various walks of life, probing their hopes, fears and strategies for navigating 2026.

A common theme from those discussions showed that Nigerians want clear communication, fair implementation and safety nets for low-income groups as the new tax reforms present both opportunities and alarm. Many feel that unpredictable or poorly explained policies generate fear more than confidence.

There is widespread belief that increased revenue from reforms should translate into improved public services. Education, healthcare and infrastructure rank high among public expectations where the funds generated from the tax reforms are to be channeled into.

For the younger populations, especially students and those in tech and creative sectors, they see 2026 as a year for innovation, digital transformation and global reach. They also expect ecosystem support and fiscal incentives to unlock growth.

Amid fear of economic tightening as a result of the policies, Nigerians across sectors bank on strategic survival approaches, including diversified income from side hustles, informal saving groups and investment in stable assets; budget tightening and cutting of discretionary expenses; skill upgrade for young professionals and students; and rural farmers’ focus on cheaper inputs and cooperative marketing for productivity:

For market men and women, the travails and challenges they faced as the year rounded off in 2025 portend more worry for them.

“This Christmas, I sold less than half of what I expected,” said Mrs. Chioma Eze, foodstuff trader at Onitsha Market, Anambra. “People come; they touch the goods… then walk away. Prices are high, money buys less. If fuel tax comes in January, it will add to transport and logistics costs. We will have to raise prices again.”

Mrs Eze told Sunday Tribune that she hopes the New Year will bring stability, particularly something less harsh than the pinch of 2025. “I’m making savings plans, but with inflation still biting, every naira has to be watched.”

A Lagos-based sales manager, Mr. Adebayo Adetunji, acknowledged the necessity of revenue reform but admits the timing feels hard on households, saying “among friends and colleagues, the talk is mostly about survival with smart planning.”

The tax analyst by training explained: “We are planning tighter budgets, investing in side hustles and digital income streams. Many of us are also considering moving savings to stable assets like dollar-denominated accounts or crypto to hedge against naira volatility.”

Adetunji said he believes his expectations for 2026 hinge on meaningful wage adjustments and corporate investment in staff welfare, adding that government and private sector should jointly improve those areas because of their importance to people and their overall development.

Abuja-based federal civil servant, Mr Olufemi Akinola, said public servants here are cautious because of the tax reforms expected to take effect from January 2026. “We expect our salaries to be reviewed regularly. With new tax rules, many colleagues are worried about take-home pay shrinking,” he told Sunday Tribune.

Though he expects things may become predictable in the New Year in spite of the increase in tax dues, Akinola said he and others are trying to supplement income through small businesses and investments.

“We adapt and that’s the Nigerian way. But I hope 2026 brings predictability from government so we can plan our family budgets effectively.”

Despite the fear that government policies may gravely affect their operations, a small-scale entrepreneur and tailor, Mrs Halima Balarabe, hopes to see stability in input costs and consistent customer demand in 2026.

“With cost of fabric already high and the middle-class shrinking, sales slowed in 2025. If fuel and services get taxed more, customers will cut spending. It is one of the reasons I plan to specialise in affordable designs and offer flexible payment in 2026,” she said.

 A cassava farmer based in Oyo State, Mrs Joy Okorie, told Sunday Tribune over the phone that government reforms could boost agriculture if handled with rural-friendly policy design.

“For farmers, prices of fertiliser and transport matter most,” Okorie said. “If diesel becomes costlier, farm production costs rise and food prices go up. I hope for support like subsidies on agricultural inputs and better market access.”

Students and young workers weigh in

An engineering student Imoh Israel Okposin, told Sunday Tribune he plans to manage academics, personal growth and mental health wisely in the new year.

“As an engineering student my expectations for 2026 include academic growth, practical exposure, skill development, networking and balance,” he said.

On navigating 2026 despite challenges arising from FG’s policy, Okposin said: “I’ll adjust to changes in school schedules, fees or policy shifts without losing focus. I’ll use online learning (YouTube, Coursera, free PDFs) to supplement what the system may not provide. I’ll budget carefully, seek scholarships, student grants or side hustles to survive rising costs.

“No matter what happens politically, my education is an investment. Because of that, I plan to stay focused on the end goal, pray, stay calm and don’t let fear steal my discipline. Tough times build stronger minds.”

Oluwademilade Paul Yomi-Dada’s focus on 2026 revolves around academic excellence, in spite of the economic pressures that may come with the year.

“The year 2026 represents a very important phase of my life. My major expectation is to fulfil my personal goals and turn my dreams into reality through focus, discipline, and hard work. Academically, I am determined to succeed by giving my studies the seriousness they deserve, improving my performance and fully understanding my course of study. I also look forward to being promoted to the next academic level, which will serve as evidence of my growth and commitment to excellence.

“Beyond academics, one of my greatest motivations is to make my family proud. Their sacrifices and support inspire me to keep pushing forward, even in difficult times. I am ready to do all it takes, through perseverance, resilience, and self-development, to become successful and stand out positively. Ultimately, my expectation for 2026 is to lay a solid foundation for the future and gradually rise as a champion, not just for myself, but as a source of pride and inspiration to those around me,” he explained.

For Lagos-based Ebenezer Iribhogbe, he also believes the New Year will come with new opportunities he will like to take advantage of by planning and starting business as well as continuing my studies.

“I believe the economy is in the most resourceful state in a long time. We are no longer lazy youths. We are led by a productive leader and in so doing we are productive. This is why many businesses have risen up. Suffering has made us wiser and wisdom has made us productive. This will lead to a higher standard of living and wealth by God’s grace.

“I pray Nigeria doesn’t copy foreign systems where everyone is comfortable but no can be great. God bless you. God bless Nigeria and God bless this great nation,” Iribhogbe said.

Despite bleak financial realities, another undergraduate at the Ahmadu Bello University, Zaria, Miss Zainab Musa, said her expectation for the New Year centers on opportunity as she hopes for more internships, university scholarships and entrepreneurship training that will open up for her and other students to explore.

“For students, it’s tough,” Miss Musa said. “Fees, books, data and accommodation and almost everything rose this year. New taxes on fuel and utilities may just push families to tighten allowances further.”

 “We are not asking for miracles, we just want access to jobs and platforms where young people can thrive,” she added.

With inflation pressures easing on paper, budgetary reforms advancing and a youth-driven quest for opportunities, expectations are mixed but not entirely bleak. For many Nigerians, year 2026 will be a litmus test for economic resilience, policy coherence and societal adaptability.

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