President Bola Ahmed Tinubu on Friday presented a ₦58.18 trillion 2026 Appropriation Bill to a joint session of the National Assembly, describing it as a defining moment in Nigeria’s reform journey. Tagged “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” the proposal aims to deepen recent economic gains, strengthen national security and translate macroeconomic recovery into jobs and improved living standards for Nigerians.
In his address, Tinubu said the Nigerian economy was showing clear signs of stabilisation, citing 3.98 per cent GDP growth in the third quarter of 2025 and a steady decline in inflation to 14.45 per cent in November 2025 after eight consecutive months of moderation. He also disclosed that external reserves had risen to about $47 billion, the highest level in seven years, providing more than 10 months of import cover. According to him, these gains were the result of “deliberate and difficult policy choices” taken over the last two and a half years.
Under the 2026 fiscal framework, the government projects total revenue of ₦34.33 trillion against total expenditure of ₦58.18 trillion, leaving a budget deficit of ₦23.85 trillion, representing 4.28 per cent of GDP. Debt servicing is estimated at ₦15.52 trillion, while capital expenditure stands at ₦26.08 trillion. Security tops sectoral allocations with ₦5.41 trillion, followed by infrastructure at ₦3.56 trillion, education at ₦3.52 trillion and health at ₦2.48 trillion. The budget assumptions include an oil benchmark of $64.85 per barrel, production of 1.84 million barrels per day and an exchange rate of ₦1,400 to the dollar.
On security, Tinubu announced a tougher national posture, declaring that all armed groups operating outside state authority would henceforth be treated as terrorists. He warned that bandits, militias, kidnappers and violent non-state actors—as well as their sponsors and financiers—would face decisive action. The president also pledged stricter budget discipline in 2026, improved revenue mobilisation and greater accountability across government agencies, stressing that the success of the budget would be measured not by its size, but by its effective delivery to the Nigerian people.
