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President Muhammadu Buhari’s Democracy Day Speech
SPEECH BY HIS EXCELLENCY, MUHAMMADU BUHARI, PRESIDENT AND COMMANDER IN CHIEF OF THE ARMED FORCES FEDERAL REPUBLIC OF NIGERIA ON THE OCCASION OF COMMEMORATION AND CELEBRATION OF DEMOCRACY DAY ON 12TH JUNE, 2021
Fellow Nigerians,
I join you all today to commemorate and celebrate our Democracy Day. It is a celebration of freedom and a victory for one people, one country and one Nigeria.
As with all democracies we will always be going through improvement processes in our desire to reach the goal of a mature democracy, a strong, evolved and integrated nation-state to be reckoned with globally.
In the last two years we have witnessed and overcome a good number of testy challenges that would have destroyed other nations especially relating to our collective security.
The indefatigable CAN DO Spirit of the Nigerian has sustained us and would keep pushing us to put these challenges behind us.
Unfortunately some of these challenges came in the shape of violent outrages leading to the loss of lives of many of our dear compatriots and the destruction of some of our infrastructure, including those devoted to improving our democratic processes.
Once again, I want to render my sincere and heartfelt condolences to the families and friends of our gallant servicemen and women who lost their lives in the line of duty and as a sacrifice to keep Nigeria safe.
I extend the same condolence to the families and friends of our countrymen, women and children who were unfortunate victims of such senseless arsons, kidnappings and murders.
I also share the pains of families and direct victims of ransom-seeking, kidnapped victims who went through unimaginable trauma in the course of their forced imprisonment.
Let me assure my fellow citizens that every incident, however minor gives me great worry and concern and I immediately order security agencies to swiftly but safely rescue victims and bring perpetrators to justice.
Fellow Nigerians,
When you elected me as your President in 2015, you did so knowing that I will put an end to the growing insecurity, especially the insurgency in the North East, but the unintended consequences of our scattering them in the North East pushed them further in-country which is what we are now facing and dealing with.
We will, by the Grace of God put an end to these challenges too.
Unfortunately, like in most conflict situations, some Nigerian criminals are taking undue advantage of a difficult situation and profiteering therefrom with the misguided belief that adherence to the democratic norms handicaps this Administration from frontally and decisively tackling them.
We are already addressing these obstacles and we will soon bring some of these culprits to justice.
We are, at the same time addressing the twin underlying drivers of insecurity namely poverty and youth unemployment.
Interventions led by the government and the Central Bank of Nigeria driving economic growth over the past 6 years are targeted mostly to the agricultural, services, infrastructure, power and health care sectors of the economy.
In the Agricultural sector, for instance, the Anchor Borrowers Programme resulted in sharp decline in the nation’s major food import bill from $2.23billion in 2014 to US$0.59billion by the end of 2018.
This initiative supported local production of rice, maize, cotton and cassava. The government financed 2.5 million small-holder farmers cultivating about 3.2 million hectares of farmland all over the country and created 10 million direct and indirect jobs.
Several other initiatives, namely AgriBusiness/Small and Medium Enterprise Investment Scheme, the Non-oil Export stimulation Facility, the Targeted Credit Facilities operated across the 774 Local Governments.
In the manufacturing sector the CBN – BOI N200 billion facility financed the establishment and operations of 60 new industrial hubs across the country, creating an estimated 890,000 direct and indirect jobs.
The CBN’s N50 billion Textile Sector intervention Facility increased capacity utilization of ginneries from 30% to nearly 90%.
The Economic Sustainability Plan – our rebound plan for the COVID-19 pandemic developed in 2020 is currently being executed. The plan is primarily focused on the non-oil sector, which has recorded phenomenal growth contributing over 90% to the GDP growth in Q1 2021
Though marginal we have recorded GDP growth over two quarters; Q2 2020 and Q1 2021. This is evidence of a successful execution of the ESP by the Federal Government.
My vision of pulling 100 million poor Nigerians out of poverty in 10 years has been put into action and can be seen in the National Social Investment Programme, a first in Africa and one of the largest in the world where over 32.6m beneficiaries are taking part. We now have a National Social register of poor and vulnerable households, identified across 708 local government areas, 8,723 wards and 86,610 communities in the 36 States and the FCT.
Our conditional cash transfer program has benefited over 1.6 million poor and vulnerable households comprising more than 8 million individuals. This provides a monthly stipend of N10,000 per household.
I have also recently approved the National Poverty Reduction with Growth Strategy Plan that augments existing plans to further reduce poverty in Nigeria.
As at the end of 2020, the Development Bank of Nigeria had disbursed 324 billion Naira in loans to more than 136,000 MSMEs, through 40 participating Financial Institutions. I am to note that 57% of these beneficiaries are women while 27% are the youth.
We are able to do all these and still accelerate our infrastructure development through sensible and transparent borrowing, improved capital inflow, improving and increasing revenue through capturing more tax bases and prudent management of investment proceeds in the Sovereign Wealth Fund.
Fellow Nigerians, our infrastructure revolution continues with key projects attaining critical milestones under the Presidential Infrastructure Development Fund; The Second Niger Bridge, The Lagos- Ibadan Expressway and the Abuja-Kaduna-Zaria-Kano Expressway.
I have also approved the establishment of Infraco Plc, a world-class infrastructure development vehicle wholly focused on Nigeria with a capital structure of N15 trillion.
The rail system is not left out as the Itakpe-Warri standard gauge rail was completed and commissioned 33 years after construction began. The Lagos-Ibadan double track railway line which I have just commissioned has commenced operations.
We are focused on ensuring that our infrastructure drive is key to economic growth and one that can be felt by every Nigerian. Building critical infrastructure in our ports is also opening up opportunities for the Nigerian economy.
My approval for 4 new seaports using a Public-Private-Partnership approach is hinged on growing the Nigerian economy. These four sea ports; Lekki Deep Sea Port, Bonny Deep Sea Port, Ibom Deep Sea Port and Warri Deep Sea port will create massive job opportunities and foreign investment inflows.
We have worked at deepening our Eastern ports leading to success like having three container ships berth at Calabar port, a first in 11 years. Similarly, on October 30 2019, an LPG tanker operated by NLNG berthed in Port Harcourt, the first time an LPG ship is berthing at any of the Eastern Ports.
As we invest in these new assets, we have also made strides in ensuring that they are secured and protected. In this regard I am also pleased to note the launch of the NIMASA Deep Blue project – which is an Integrated National Security and Waterways Protection Infrastructure that I recently commissioned. This initiative is designed to add to the layer of security we have to safeguard our maritime sector.
Dear Nigerians, I will be the first to admit that in spite of our efforts and achievements which are there for all to see, there is still much more to be done and we are doing our best in the face of scarce resources and galloping population growth rate that consistently outstrips our capacity to provide jobs for our populace. Our over-all economic target of lifting 100 million Nigerians out of poverty in 10 years is our goal notwithstanding COVID-19.
In the last two years we lifted 10.5 million people out of poverty – farmers, small-scale traders, artisans, market women and the like.
I am very convinced that this 100 million target can be met and this informed the development of a National poverty Reduction with Growth Strategy. The specific details of this accelerated strategy will be unveiled shortly.
In the last one year, Nigeria and the whole world faced COVID-19 for which no one was fully prepared.
Our response to the pandemic involved making hard choices in balancing livelihoods and public health concerns. You are all living witnesses to how successful this has been due to a number of pro-active measures put in place. Our response to COVID-19 is globally acclaimed.
We were able to ensure that the various lockdown measures did not impact too negatively on the ability of ordinary Nigerians to continue sustaining their livelihoods.
During the pandemic, we disbursed N5,000 to 1 million Nigerians using a Rapid Response Register and advanced N20,000 to 750,000 beneficiaries of the Conditional Cash Transfer Progamme and provided 1.37 million Nigerians with palliatives from CACOVID.
At the same time the Federal Government released 109,000 metric tonnes of food reserve stocks and 70,000 metric tonnes of grains to the poor and vulnerable in all 36 states of the federation.
In addition, Government reduced interest rates from 9% to 5% for struggling businesses and extended credit facilities to 548,345 beneficiaries.
Fellow Nigerians, when this administration decided to change our Democracy Day from 29th May to June 12th in my first tenure, it was not only to honour the sacrifices of the men and women of our country who fought for the return to democracy but also to demonstrate our commitment to satisfy the aspirations of the people and creating an environment for democracy to be an accepted way of life.
As your President, I remain committed to providing an enabling environment for a free, fair and credible electoral system under my tenure.
However, you need to play your part by getting involved at any level you can supporting a democratic system that works for all and not for a section or a select few and demand accountability from your elected leaders.
My commitment to bequeathing a sustainable democratic culture remains resolute, my pursuit of a fair society remains unshaken and my desire to see that Nigeria remains a country for each and every one of us has never been stronger.
In responding to the challenges that this period imposes on us, Government also recognises the need to acknowledge notions of marginalisation and agitations for constitutional amendments among various segments of our population.
While this government is not averse to constitutional reform as part of our nation building process, everyone must understand that the primary responsibility for constitutional amendments lies with the National Assembly.
This body which, as I said, is the arm of government responsible for constitutional changes has concluded the preliminary stages of amending and improving our constitution in a way that the majority of Nigerians will be happy with.
Government is, however, willing to play a critical role in the constitutional amendment process without usurping the powers of the National Assembly in this regard.
As a nation we have come very far from where we started and we are getting incrementally closer to where we ought to be.
Overcoming the present challenges is but one of a necessary process that we have to undergo as a nation so that we can come out stronger. The day I joined the Nigerian Army I was prepared to lay down my life for Nigeria.
As your President I remain ever committed to upholding and defending Nigeria’s Corporate existence.
In adhering to the Fundamental Objectives and Directive Principles of State Policy notably section 14(2)(b) I shall do all within my power to ensure that the Security and welfare of the people remain the primary purpose of government.
I have, throughout my tenure, provided the security agencies with all they require relative to available resources and will be providing more as the dynamics unfold to put an end to our security problems.
My strong belief in the Nigerian spirit gives me comfort that we are facing these challenges with renewed commitment to keep our country one.
I thank you for your patience and attention and more importantly your resolve to join hands in making Nigeria the country of our dream.
Happy Democracy Day! God Bless us All, God Bless the Federal Republic of Nigeria.
Political economist, Prof. Pat Utomi, has stated that if the former Governor of Anambra State, Peter Obi, decides to run as someone’s vice-presidential candidate, he will immediately stop supporting him.
Speaking on Channels Television’s Politics Today on Thursday, Prof. Utomi assured that the 2023 presidential candidate of the Labour Party will contest for the presidency in 2027, following his formal defection to the African Democratic Congress (ADC) on Wednesday.
“I can tell you that Peter Obi will contest for the presidency. The day he becomes somebody’s vice president, I walk away from his corner. I can tell you that for a fact,” Prof. Utomi said on the programme.
In the same interview, Prof. Utomi also made a case for limiting presidential and gubernatorial candidates to Nigerians aged 70 and below.
He lamented that the Nigerian presidency has increasingly become a “retirement home,” criticising both former President Muhammadu Buhari’s and President Bola Tinubu’s administrations as “government in absentia.”
“Something important about this election to bear in mind is that the Nigerian presidency has become a retirement home where people go for the Nigerian state to pay their medical bills. It is not acceptable. They don’t have the fitness to run the country. The last one, and the current one, have essentially been government-in-absentia leaders.”
“I, Pat Utomi, am insisting that I will canvass to the Nigerian people that nobody over the age of 70 should run for an executive position, whether it be governor or president,” he concluded.
Rescue mission
Obi, who came third in the 2023 presidential election with over 6 million votes, officially announced his defection to the African Democratic Congress (ADC) in Enugu on Wednesday.
In his speech at the event, Obi said his move to the ADC marks the beginning of a journey to rescue the country from the ruling All Progressives Congress (APC).
“Today is an important day; today is the last day of 2025, so we are ending this year with the hope that, in 2026, we will begin a journey to rescue our country and set it on the path of proper socio-economic development that will be unifying and inclusive,” Obi stated.
He added: “We have all watched as those who benefited from our democracy have, over time, become accessories to destroying it—either through coercion or gangsterism against the opposition. We cannot allow this to happen; we will resist it.”
President Bola Tinubu has assured Nigerians that 2026 will be a more prosperous year for all.
Tinubu stated this in his New Year message on Thursday, adding that his administration would sustain the momentum on its major reforms.
“During 2025, we sustained the momentum on our major reforms. We had a fiscal reset and also recorded steady economic progress.
“Despite persistent global economic headwinds, we recorded tangible and measurable gains, particularly in the economy.
“These achievements reaffirm our belief that the difficult but necessary reforms we embarked upon are moving us in the right direction with more concrete results on the horizon for the ordinary Nigerian,” the President said in the statement he personally signed.
Consolidating gains
Tinubu said that the focus in 2026 would be on consolidating the gains and continuing to build a resilient, sustainable, inclusive, and growth-oriented economy.
According to him, Nigeria closed 2025 on a strong note, as despite the policies to fight inflation, it recorded a robust GDP growth each quarter, with annualised growth expected to exceed four per cent for the year.
Tinubu explained that the nation maintained trade surpluses and achieved greater exchange rate stability while inflation declined steadily and reached below 15 per cent, in line with his administration’s target.
“In 2026, we are determined to reduce inflation further and ensure that the benefits of reform reach every Nigerian household. In 2025, the Nigerian Stock Exchange outperformed its peers, posting a robust 48.12 per cent gain and consolidating its bullish run that began in the second half of 2023.
“Supported by sound monetary policy management, our foreign reserves stood at $45.4 billion as of December 29, 2025, providing a substantial buffer against external shocks for the Naira. We expect this position to strengthen further in the New Year,” he said.
“Foreign direct investment is also responding positively. In the third quarter of 2025, FDI rose to $720 million, up from $90 million in the preceding quarter, reflecting renewed investor confidence in Nigeria’s economic direction, which global credit rating agencies, including Moody’s, Fitch, and Standard & Poor’s, have consistently affirmed and applauded,” Tinubu added.
Tax reforms
The President further assured that with patience, fiscal discipline, and unity of purpose, Nigeria would emerge in 2026 stronger and better positioned for sustained growth.
According to him, as inflation and interest rates moderate, his administration expects increased fiscal space for productive investment in infrastructure and human capital development.
“We are also confronting the challenge of multiple taxation across all tiers of government. I commend states that have aligned with the national tax harmonisation agenda by adopting harmonised tax laws to reduce the excessive burden of taxes, levies, and fees on our people and on basic consumption.
“The new year marks a critical phase in implementing our tax reforms, designed to build a fair, competitive, and robust fiscal foundation for Nigeria.
“By harmonising our tax system, we aim to raise revenue sustainably, address fiscal distortions and strengthen our capacity to finance infrastructure and social investments that will deliver shared prosperity,” he added.
National security
Tinubu said that though the path of reform is never easy, his administration remains mindful that economic progress must be accompanied by security and peace.
“Our nation continues to confront security threats from criminal and terrorist elements determined to disrupt our way of life. In collaboration with international partners, including the United States, decisive actions were taken against terrorist targets in parts of the Northwest on December 24.
“Our Armed Forces have since sustained operations against terror networks and criminal strongholds across the Northwest and Northeast,” he said.
But the President stated that in 2026, Nigeria’s security and intelligence agencies would deepen cooperation with regional and global partners to eliminate all threats to national security.
“We remain committed to protecting lives, property, and the territorial integrity of our country.
“I continue to believe that a decentralised policing system with appropriate safeguards, complemented by properly regulated forest guards, all anchored on accountability, is critical to effectively addressing terrorism, banditry, and related security challenges,” he added.
Investments in infrastructure
The New Year marks the beginning of a more robust phase of economic growth, with tangible improvements in the lives of our people.
Tinubu also said that his government would accelerate the implementation of the Renewed Hope Ward Development Programme, aiming to bring at least 10 million Nigerians into productive economic activity by empowering at least 1,000 people in each of the 8,809 wards across the country.
“Through agriculture, trade, food processing, and mining, we will stimulate local economies and expand grassroots opportunities.
“We will also continue to invest in modernising Nigeria’s infrastructure – roads, power, ports, railways, airports, pipelines, healthcare, education, and agriculture to strengthen food security and improve quality of life. All ongoing projects will continue without interruption,” he said.
He, however, urged Nigerians to play their part to achieve the objectives in 2026 by standing together in unity and purpose, upholding patriotism, and serving the country with honour and integrity in their respective roles.
Let us resolve to be better citizens, better neighbours, and better stewards of our nation.
An Abuja High Court has cleared the way for the implementation of Nigeria’s new tax regime scheduled to commence on January 1, 2026, dismissing a suit seeking to halt the programme.
The ruling gives the Federal government, the Federal Inland Revenue Service (FIRS) and the National Assembly full legal backing to proceed with the take-off of the new tax laws.
The suit was filed by the Incorporated Trustees of African Initiative for Abuse of Public Trustees, which dragged the Federal Republic of Nigeria, the President, the Attorney-General of the Federation, the President of the Senate, Speaker of the House of Representatives and the National Assembly before the court over alleged discrepancies in the recently enacted tax laws.
In an ex-parte motion, the plaintiff sought an interim injunction restraining the Federal Government, FIRS, the National Assembly and related agencies from implementing or enforcing the provisions of the Nigeria Tax Act, 2025; Nigeria Tax Administration Act, 2025; Nigeria Revenue Service (Establishment) Act, 2025; and the Joint Revenue Board of Nigeria (Establishment) Act, 2025, pending the determination of the substantive suit.
The group also asked the court to restrain the President from implementing the laws in any part of the federation pending the hearing of its motion on notice.
However, in a ruling delivered on Tuesday, Justice Kawu struck out the application, holding that it lacked merit and failed to establish sufficient legal grounds to warrant the grant of the reliefs sought.
The court ruled that the plaintiffs did not demonstrate how the implementation of the new tax laws would occasion irreparable harm or violate any provision of the Constitution, stressing that matters of fiscal policy and economic reforms fall squarely within the powers of government.
Justice Kawu further held that once a law has been duly enacted and gazetted, any alleged errors or controversies can only be addressed through legislative amendment or a substantive court order, noting that disagreements over tax laws cannot stop the implementation of an existing law.
Consequently, the court affirmed that there was no legal impediment to the commencement of the new tax regime and directed that implementation should proceed as scheduled from January 1, 2026.
The new tax regime is anchored on four landmark tax reform bills signed into law in 2025 as part of the Federal Government’s broader fiscal and economic reform agenda aimed at boosting revenue, simplifying the tax system and reducing leakages.
The laws — the Nigeria Tax Act, 2025, Nigeria Tax Administration Act, 2025, Nigeria Revenue Service (Establishment) Act, 2025, and the Joint Revenue Board of Nigeria (Establishment) Act, 2025 — consolidate and replace several existing tax statutes, including laws governing companies income tax, personal income tax, value added tax, capital gains tax and stamp duties.
Key elements of the reforms include the harmonisation of multiple taxes into a more streamlined framework, expansion of the tax base, protection for low-income earners and small businesses, and the introduction of modern, technology-driven tax administration systems such as digital filing and electronic compliance monitoring.
The reforms also provide for the restructuring of federal tax administration, including the creation of the Nigeria Revenue Service, to strengthen efficiency, coordination and revenue collection across government levels.
While the Federal government has described the reforms as critical to stabilising public finances and funding infrastructure and social services, the laws have generated intense public debate, with some civil society groups and political actors alleging discrepancies between the versions passed by the National Assembly and those later gazetted.
These concerns sparked calls for suspension, re-gazetting and legal action, culminating in the suit dismissed by the Abuja High Court.
Reacting to the judgment, stakeholders described the ruling as a major boost for the reforms, saying it has removed all legal obstacles that could have delayed the implementation of the new tax framework.
