President Bola Ahmed Tinubu on Friday presented the N58.18 trillion 2026 Appropriation Bill to a joint session of the National Assembly, describing it as a “Budget of Consolidation, Renewed Resilience and Shared Prosperity.”
The proposal, the largest in Nigeria’s history, outlines revenue projections of N34.33 trillion, with N23.85 trillion in deficit—representing 4.28% of GDP.
The budget rests on key assumptions: $64.85 per barrel oil benchmark, 1.84mbpd production, and an exchange rate of N1,400/$.
From the estimates, N15.52 trillion is earmarked for debt servicing, N15.25 trillion for recurrent spending, and N26.08 trillion for capital projects.
Tinubu said his administration is strengthening fiscal discipline and ensuring “every naira borrowed delivers measurable value.”
He listed defence and security as the biggest priority with N5.41 trillion, followed by infrastructure (N3.56 trillion), education (N3.52 trillion), and health (N2.48 trillion).
According to him, the 2026 plan is designed as an integrated blueprint for national renewal—improving security, boosting human capital, and scaling job-creating infrastructure.
He added that reforms in policing, border security, intelligence, and a new national counterterrorism doctrine will sharpen Nigeria’s anti-crime response.
“Our investments must produce real security outcomes,” Tinubu said, insisting the budget strengthens the fighting capacity of the armed forces while reshaping the criminal justice system to curb terrorism, banditry, and kidnapping.
