Defence, Security, Infrastructure, Education, Health Get N14.97 Trn As Tinubu Presents N58.18Trn 2026 Budget

By Alkassim Bala Tsakuwa, Abuja

President Bola Ahmed Tinubu has presented the 2026 Appropriation Bill to the joint sitting of the National Assembly for consideration on Friday, December 19. tagged, “Budget of Consolidation, Renewed Resilience And Shared Prosperity”.

The President informed that, the 2026 Federal Budget is anchored on realism, prudence, and growth.

He said, “Our allocations reflect the Renewed Hope Agenda and the practical needs of Nigerians. Key sectoral provisions include: Defence and security: 5.41 trillion naira; Infrastructure: 3.56 trillion naira; Education: 3.52 trillion naira; Health: 2.48 trillion naira.

“These priorities are interlinked. Without security, investment will not thrive. Without educated and healthy citizens, productivity will not rise. Without infrastructure, jobs and enterprises will not scale. This Budget is, therefore, designed to provide a single, coherent programme of national renewal”.

President Tinubu stated that, the key aggregates of the budget include an expected total revenue is N34.33 trillion, a projected total expenditure of N58.18 trillion including N15.52 trillion for debt servicing.

The budget has a Recurrent (non‑debt) expenditure N15.25 trillion, a Capital expenditure of N26.08 trillion and an expected deficit of N23.85 trillion, representing 4.28% of GDP.

The President added, “These numbers are not mere accounting lines. They are a statement of national priorities. We remain firmly committed to fiscal sustainability, debt transparency, and value‑for‑money spending.

“The 2026–2028 Medium‑Term Expenditure Framework and Fiscal Strategy Paper sets the parameters for this Budget. Our projections are based on a conservative crude oil benchmark of US64.85 dollars per barrel; crude oil production of 1.84 million barrels per day; and an average exchange rate of 1,400 naira to the US Dollar for the 2026 fiscal year.

The President further emphasised,”We will continue to reduce waste, strengthen controls, and ensure that every naira borrowed or spent delivers measurable public value.

“This budget represents a defining moment in our national journey of reform and transformation. Over the last two and a half years, my government has methodically confronted long‑standing structural weaknesses, stabilised our economy, rebuilt confidence, and laid a durable foundation for the construction of a more resilient, inclusive, and dynamic Nigeria.

“Though necessary, the reforms have not been painless. Families and businesses have faced pressure; established systems have been disrupted; and budget execution has been tested. I acknowledge these difficulties plainly. Yet, I am here, today, to assure Nigerians that their sacrifices are not in vain. The path of reform is seldom smooth, but it is the surest route to lasting stability and shared prosperity”.

President Tinubu informed that, while the global outlook continues to improve, this Budget aims to further strengthen our Nigerian economy to benefit all citizens.

According to him, his administration’s reform efforts are already yielding measurable results as the economy grew by 3.98 per cent in Q3 2025, up from 3.86 per cent in Q3 2024.

He added, “Inflation has moderated for eight consecutive months, with headline inflation declining to 14.45 per cent in November 2025, from 24.23 per cent in March 2025. With stabilising food and energy prices, tighter monetary conditions, and improving supply responses, we expect the deflationary trend to persist over the 2026 horizon, barring major supply shocks.

“Oil production has improved, supported by enhanced security, technology deployment, and sector reforms. Non‑oil revenues have expanded significantly through better tax administration. Investor confidence is returning, reflected in capital inflows, renewed project financing, and stronger private‑sector participation.

“Our external reserves rose to a 7‑year high of about US47 billion dollars as of last month, providing over 10 months of import cover and a more substantial buffer against shocks.

“These outcomes are not accidental or lucky. They are the consequence of our difficult policy choices. Our next objective is to deepen our gains in pursuit of enduring and inclusive prosperity.

“Mr. Chairman, Distinguished Members, our 2025 budget implementation faced the realities of transition and competing execution demands. As of Q3 2025, we recorded: 18.6 trillion naira in revenue — representing 61% of our target; and 24.66 trillion naira in expenditure — representing 60% of our target.

“Following the extension of the 2024 capital budget execution to December 2025, a total of 2.23 trillion naira was released for the implementation of 2024 capital projects as of June 2025.

“While fiscal challenges persisted, the government met its key obligations. However, only 3.10 trillion naira — about 17.7% of the 2025 capital budget — was released as of Q3, reflecting the emphasis on completing priority 2024 capital projects during the transition period.

“Let me be clear: 2026 will be a year of stronger discipline in budget execution. I have issued directives to the Honourable Minister of Finance and Coordinating Minister of the Economy, the Honourable Minister of Budget and Economic Planning, the Accountant‑General of the Federation, and the Director‑General of the Budget Office of the Federation to ensure that the 2026 Budget is implemented strictly in line with the appropriated details and timelines”.