By Tope Fasua
It is both a profound honour and a distinct pleasure to stand before this distinguished assembly of global thinkers, captains of industry, and partners in progress. I bring you the warm fraternal greetings of my leader and principal, President Bola Ahmed Tinubu, GCFR, whose vision for a rejuvenated Nigeria is the compass by which we navigate these turbulent but promising times.
We gather here in Zurich, a city defined by its precision and its role as a sanctuary for global discourse, at a moment of historical rupture. The world as we knew it is being recalibrated. The “nice story” of a predictable, rules-based order—to borrow the phrasing of recent global dialogues—has encountered a brutal reality of great power rivalry and economic transactionalism.
Yet, for Nigeria, this is not a season of retreat; it is a season of bold engagement.
The Gains of the Renewed Hope Agenda
Under the stewardship of President Tinubu, we have moved beyond the tentative steps of recovery into the confident strides of structural transformation. We did not come to office to manage the status quo; we came to disrupt it for the benefit of the Nigerian person.
In 2025, our economy expanded by 4%, the fastest pace in over a decade. This growth was not fueled by the volatile swings of oil prices, but by the grit and ingenuity of our non-oil sector, which now accounts for approximately 96% of our GDP. We are witnessing a Nigeria where services, technology, and agriculture are the new frontiers of our national wealth.
The Tax Reforms: A Covenant of Growth
As of the 1st of January 2026, the Nigeria Tax Act and its accompanying reforms have officially commenced. This is not merely a collection of statutes; it is a fiscal covenant. By consolidating the fragmented tax landscape into a unified, digitally-enabled framework under the Nigeria Revenue Service (NRS), we have eliminated the “nuisance taxes” that stifled small businesses.
We have raised the exemption threshold for our lowest earners, ensuring that those earning 800,000 Naira or less are shielded, while introducing a progressive 15% minimum effective tax rate for global behemoths. Our message is clear: Nigeria is no longer a place of fiscal ambiguity. We offer certainty, transparency, and a level playing field.
Lessons from Davos 2026: The Sovereign Presence
Just days ago, in the snow-capped heights of Davos, we achieved a historic milestone. For the first time, the green-white-green of our flag flew over a Sovereign Nigerian Pavilion.
The inauguration of the Nigeria House was a declaration of our strategic autonomy. We did not go to Davos as observers; we went as participants. We engaged in dialogues that move beyond “aid” to “enterprise.” From solid minerals to the creative economy, Davos 2026 has provided us with a platform to show that while the government can open doors and de-risk environments, only private capital can animate growth.
Navigating the Global Reordering: The Trump and Carney Perspectives
We are not unmindful of the “rupture” in global governance highlighted by Prime Minister Mark Carney, nor the realism of the “America First” doctrine reasserted by President Trump. We see the world as it is, not as we wish it to be.
When great powers pivot toward protectionism and tariffs, Nigeria responds with strategic calibration. If the global order is fading into a system of “intensifying rivalry,” Nigeria chooses the path of principled pragmatism. We are strengthening our strategic autonomy by:
Deepening Intra-African Trade: Using the AfCFTA as a shield against external shocks and a bridge to continental prosperity.
Diversifying Partnerships: We are engaging with the “middle powers” and global investors who value mutual respect over coercion.
Investing in Resilience: Ensuring that our energy, food, and digital supply chains are robust enough to withstand the volatility of global politics.
Conclusion
Distinguished Ladies and Gentlemen, Nigeria is not a problem to be solved; we are a solution to be embraced. We are the heartbeat of a continent that is the last frontier of global growth.
The Renewed Hope Global Summit is an invitation to join us in this dialogue. We offer you a Nigeria that is rebuilding trust, restoring credibility, and positioning itself as a global centre for wealth creation.
As we engage over the next few hours, let us remember that progress is never a monologue; it is a dialogue between vision and investment, between policy and productivity.
Thank you for your attention, and may our deliberations yield a harvest of opportunities.
-Fasua (PhD) is a Special Adviser to the President on Economic Matters in the office of the Vice President, delivered this address at the Renewed Hope Global WEF side event in Zurich, Switzerland
Leave a Reply