President Bola Ahmed Tinubu has submitted the ₦58.18 trillion 2026 Appropriation Bill to a joint session of the National Assembly, unveiling a detailed fiscal and security plan aimed at consolidating Nigeria’s economic recovery and strengthening national stability
Presenting the budget on Friday in Abuja, Tinubu said the 2026 spending framework is intended to deepen recent economic gains, restore investor confidence, and improve the living standards of Nigerians.
Branded “The Budget of Consolidation, Renewed Resilience and Shared Prosperity,” the proposal underscores the administration’s focus on fiscal discipline, economic reforms, and national security.
Acknowledging the challenges Nigerians faced over the past two and a half years, Tinubu assured that the sacrifices were yielding results. He highlighted that GDP growth reached 3.98 per cent in the third quarter of 2025, while inflation eased for eight consecutive months to 14.45 per cent in November. He also revealed that Nigeria’s external reserves have climbed to about $47 billion—the highest in seven years—covering more than ten months of imports.
Under the 2026 budget, total revenue is projected at ₦34.33 trillion, while total expenditure stands at ₦58.18 trillion. Debt servicing will account for ₦15.52 trillion, non-debt recurrent expenditure is set at ₦15.25 trillion, and capital spending is estimated at ₦26.08 trillion. The budget deficit is pegged at ₦23.85 trillion, equivalent to 4.28 per cent of GDP. The fiscal assumptions include a crude oil price of $64.85 per barrel, daily production of 1.84 million barrels, and an exchange rate of ₦1,400 to the dollar.
Security received the largest allocation at ₦5.41 trillion, followed by infrastructure (₦3.56 trillion), education (₦3.52 trillion), and health (₦2.48 trillion). Tinubu declared a tougher stance on national security, stating that all armed groups operating outside government authority—including bandits, kidnappers, militias, violent cults, and their sponsors—would be classified as terrorists and face decisive action.
The President also promised stricter budget implementation in 2026, directing ministries, departments, and government-owned agencies to meet revenue targets and curb leakages through full digitisation.
Tinubu highlighted increased investment in education, healthcare, and agriculture, noting that over 418,000 students have benefited from the education loan scheme, while agricultural reforms will prioritise mechanisation, irrigation, and food security.
He urged lawmakers to back the budget, emphasizing that effective collaboration between the executive and legislature is essential for delivering the Renewed Hope Agenda.
“The true value of a budget is not in its announcement, but in its delivery,” Tinubu said as he formally laid the bill before the National Assembly.
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