President Bola Tinubu on Friday presented the ₦58.18 trillion 2026 Appropriation Bill to a joint sitting of the National Assembly, outlining plans for stronger security measures, tighter fiscal discipline and sustained economic reforms.
The President, during the budget presentation declared that all armed groups operating outside the authority of the state would now be regarded as terrorists, pledging a firmer response to insecurity across the country.
The spending plan, tagged the “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” was described by Tinubu as a reflection of an economy gradually regaining stability. He pointed to a 3.98 per cent GDP growth recorded in the third quarter of 2025, eight consecutive months of easing inflation to 14.45 per cent in November 2025, improved crude oil output, stronger non-oil revenues and rising investor confidence.
The President also revealed that Nigeria’s external reserves had reached a seven-year peak of about $47 billion as of mid-November 2025, providing more than 10 months of import cover.
“These outcomes are not accidental. They reflect difficult but deliberate policy choices,” Tinubu said, adding that the goal ahead was to ensure that “stability becomes prosperity, and prosperity becomes shared prosperity.”
According to the proposal, total revenue for 2026 is estimated at ₦34.33 trillion, while aggregate expenditure is pegged at ₦58.18 trillion. This includes ₦15.52 trillion earmarked for debt servicing. Recurrent (non-debt) expenditure is projected at ₦15.25 trillion, with capital spending set at ₦26.08 trillion. The resulting budget deficit of ₦23.85 trillion represents 4.28 per cent of the Gross Domestic Product.
Key assumptions guiding the budget include a crude oil benchmark price of $64.85 per barrel, daily production of 1.84 million barrels, and an exchange rate of ₦1,400 to the dollar.
“These numbers are not just accounting lines. They are a statement of national priorities,” Tinubu said, reaffirming his administration’s commitment to fiscal sustainability, transparency in debt management and efficient use of public funds.
Sectoral allocations place security at the top with ₦5.41 trillion, followed by infrastructure at ₦3.56 trillion, education at ₦3.52 trillion and health at ₦2.48 trillion.
