President Tinubu Presents ₦58.18 trillion 2026 Budget to National Assembly
President Bola Tinubu Friday presented ₦58.18 trillion 2026 Appropriation Bill to the joint session of the National Assembly. Tinubu Christianed it as the “Budget of Consolidation, Renewed Resilience and Shared Prosperity.”
President Bola Tinubu Friday presented ₦58.18 trillion 2026 Appropriation Bill to the joint session of the National Assembly. Tinubu Christianed it as the “Budget of Consolidation, Renewed Resilience and Shared Prosperity.”
Tinubu noted that the success of the 2026 budget would be determined by its execution, not size and directed Ministries, Departments and Agencies, MDAs, to adhere strictly to appropriated timelines. He urged government officials to ensure revenue mobilisation through digitisation and clamp down on leakages.
Presenting the budget at the National Assembly Complex, Tinubu said the bill reflects the outcome of two and a half years of reforms, aimed at underpinning macro-economic stability, accelerating job-creation and delivering inclusive prosperity to Nigerians.
According to him, Nigeria’s economy was showing encouraging signs of improvement, noting a 3.98 per cent GDP growth in the third quarter of 2025, reduction in inflation to 14.45 per cent in November, and a rebound in foreign reserves to about $47 billion, which was the highest in seven years.
Fiscal Framework and Priorities
Under the proposed fiscal framework, he projected a total revenue of ₦34.33 trillion with ₦58.18 trillion as total expenditure even as debt servicing would amount to ₦15.52 trillion.
According to the breakdown, Recurrent
non-debt expenditure would amount to ₦15.25 trillion with a Capital expenditure of ₦26.08 trillion, while Budget deficit was projected at ₦23.85 trillion (about 4.28% of GDP)
The budget was predicated on conservative macroeconomic assumptions – a crude oil price benchmark of US$64.85 per barrel, daily production of 1.84 million barrels, and an exchange rate target of ₦1,400 to the US dollar.
Security, Human Capital and Infrastructure
About ₦5.41 trillion was allocated for defence and security, the largest single sectoral provision in the budget, reflecting the President's determination to tackle violent non-state actors and restore stability across the country.
He also, unveiled a new national counter-terrorism doctrine, reclassifying armed groups operating outside state authority – including bandits, militias and criminal gangs – as terrorists, and pledging unwavering action to eliminate ambiguity in law enforcement.
Education also, received a Lion's share of ₦3.52 trillion, with the expansion of the Nigerian Education Loan Fund, which has supported over 418,000 students nationwide. The health sector was allocated ₦2.48 trillion, aimed at strengthening healthcare delivery, maternal and child health, and disease prevention.
Furthermore, infrastructure, seen as a key enabler of private investment and job creation, was allotted ₦3.56 trillion, while agriculture — described as central to food security — featured would also receive priority attention through mechanisation, irrigation, agro-processing and value-chain support.
Tinubu then urged the National Assembly to collaborate by refining and passing the Appropriation Bill, asking legislators not to regard the budget as a partisan document but a national compass aimed at liberating the country.
Presenting the budget at the National Assembly Complex, Tinubu said the bill reflects the outcome of two and a half years of reforms, aimed at underpinning macro-economic stability, accelerating job-creation and delivering inclusive prosperity to Nigerians.
According to him, Nigeria’s economy was showing encouraging signs of improvement, noting a 3.98 per cent GDP growth in the third quarter of 2025, reduction in inflation to 14.45 per cent in November, and a rebound in foreign reserves to about $47 billion, which was the highest in seven years.
Fiscal Framework and Priorities
Under the proposed fiscal framework, he projected a total revenue of ₦34.33 trillion with ₦58.18 trillion as total expenditure even as debt servicing would amount to ₦15.52 trillion.
According to the breakdown, Recurrent
non-debt expenditure would amount to ₦15.25 trillion with a Capital expenditure of ₦26.08 trillion, while Budget deficit was projected at ₦23.85 trillion (about 4.28% of GDP)
The budget was predicated on conservative macroeconomic assumptions – a crude oil price benchmark of US$64.85 per barrel, daily production of 1.84 million barrels, and an exchange rate target of ₦1,400 to the US dollar.
Security, Human Capital and Infrastructure
About ₦5.41 trillion was allocated for defence and security, the largest single sectoral provision in the budget, reflecting the President's determination to tackle violent non-state actors and restore stability across the country.
He also, unveiled a new national counter-terrorism doctrine, reclassifying armed groups operating outside state authority – including bandits, militias and criminal gangs – as terrorists, and pledging unwavering action to eliminate ambiguity in law enforcement.
Education also, received a Lion's share of ₦3.52 trillion, with the expansion of the Nigerian Education Loan Fund, which has supported over 418,000 students nationwide. The health sector was allocated ₦2.48 trillion, aimed at strengthening healthcare delivery, maternal and child health, and disease prevention.
Furthermore, infrastructure, seen as a key enabler of private investment and job creation, was allotted ₦3.56 trillion, while agriculture — described as central to food security — featured would also receive priority attention through mechanisation, irrigation, agro-processing and value-chain support.
Tinubu then urged the National Assembly to collaborate by refining and passing the Appropriation Bill, asking legislators not to regard the budget as a partisan document but a national compass aimed at liberating the country.
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