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Tinubu presents ₦58.18trn 2026 budget, with security taking the highest allocation of ₦5.41trn
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President declares all armed groups outside state control terrorists, vows tougher security action
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Budget targets economic stability, infrastructure growth and shared prosperity
President Bola Ahmed Tinubu has presented the ₦58.18 trillion 2026 Appropriation Bill to a joint sitting of the National Assembly, outlining a comprehensive fiscal and security roadmap aimed at consolidating economic recovery and strengthening national stability.
Presenting the budget on Friday in Abuja, Tinubu said the 2026 spending plan is designed to deepen recent economic gains, restore investor confidence and improve living standards for Nigerians.
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Tagged “The Budget of Consolidation, Renewed Resilience and Shared Prosperity,” the proposal reflects the administration’s commitment to fiscal discipline, economic reforms and national security.
The President acknowledged the hardships experienced by Nigerians in the last two and a half years but assured citizens that the sacrifices were yielding results. According to him, Nigeria’s economy has begun to stabilise, with GDP growth reaching 3.98 per cent in the third quarter of 2025 and inflation easing for eight consecutive months to 14.45 per cent in November.
Tinubu disclosed that Nigeria’s external reserves had risen to about $47 billion, the highest in seven years, providing over ten months of import cover.
Under the 2026 fiscal framework, total revenue is projected at ₦34.33 trillion, while total expenditure stands at ₦58.18 trillion. Debt servicing will gulp ₦15.52 trillion, while non-debt recurrent expenditure is pegged at ₦15.25 trillion. Capital spending is estimated at ₦26.08 trillion, with a budget deficit of ₦23.85 trillion, representing 4.28 per cent of GDP.
The budget assumptions include a crude oil price benchmark of $64.85 per barrel, daily production of 1.84 million barrels and an exchange rate of ₦1,400 to the dollar.
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Security received the largest allocation of ₦5.41 trillion, followed by infrastructure at ₦3.56 trillion, education at ₦3.52 trillion and health at ₦2.48 trillion.
On security, Tinubu announced a tougher national stance, declaring that all armed groups operating outside government authority would be classified as terrorists. He warned that bandits, kidnappers, militias, violent cult groups and their sponsors would face decisive action.
The President also pledged stricter budget implementation in 2026, directing ministries, departments and government-owned enterprises to meet revenue targets and eliminate leakages through full digitisation.
He highlighted increased investments in education, healthcare and agriculture, noting that over 418,000 students have benefitted from the education loan scheme, while agricultural reforms would focus on mechanisation, irrigation and food security.
Tinubu urged lawmakers to support the proposal, stressing that effective collaboration between the executive and legislature is key to delivering the Renewed Hope Agenda.
“The true value of a budget is not in its announcement, but in its delivery,” the President said as he formally laid the bill before the National Assembly.
