* Security gets ₦5.41 trn; infrastructure at ₦3.56 trn; education at ₦3.52trn
Citizenship News
President Bola Ahmed Tinubu on Friday presented a ₦58.18 trillion 2026 Appropriation Bill to a joint session of the National Assembly, outlining a fiscal plan focused on consolidating economic reforms, strengthening national security and translating recent macroeconomic gains into improved living standards for Nigerians.
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.
Tagged “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” the proposal projects total revenue of ₦34.33 trillion against total expenditure of ₦58.18 trillion, leaving a deficit of ₦23.85 trillion, equivalent to 4.28 per cent of Gross Domestic Product (GDP).
Of the total spending, ₦15.52 trillion is earmarked for debt servicing, ₦15.25 trillion for recurrent (non-debt) expenditure, while capital expenditure stands at ₦26.08 trillion.
Tinubu said the budget was designed to lock in recent economic stabilisation gains, citing improved growth, moderating inflation and stronger external buffers. According to him, Nigeria’s economy grew by 3.98 per cent in the third quarter of 2025, while headline inflation declined to 14.45 per cent in November 2025, down from 24.23 per cent in March.
The President also disclosed that external reserves rose to about $47 billion as at mid-November 2025, the highest level in seven years, providing over 10 months of import cover.
The 2026 fiscal framework is based on a crude oil benchmark of $64.85 per barrel, daily oil production of 1.84 million barrels and an exchange rate of ₦1,400 to the dollar.
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. Tinubu said security spending would prioritise modernising the armed forces, intelligence-driven policing and border surveillance, alongside a new counter-terrorism doctrine that classifies all armed non-state actors operating outside state authority as terrorists.
On human capital, the President said over 418,000 students had benefited from the Nigerian Education Loan Fund, while healthcare spending accounts for about six per cent of the total budget, net of liabilities. He also announced more than $500 million in anticipated grant funding from the United States for targeted health interventions.
Tinubu acknowledged execution challenges in the 2025 budget, noting that as at the third quarter, ₦18.6 trillion in revenue (61 per cent of target) and ₦24.66 trillion in expenditure (60 per cent of target) had been recorded, with capital releases constrained by the extension of the 2024 capital budget.
He pledged tighter discipline in 2026, directing economic management agencies to ensure strict implementation of appropriated timelines and amounts, while warning government-owned enterprises to meet revenue targets under a fully digitised collection and monitoring system.
Laying the bill before lawmakers, Tinubu said the 2026 budget was “not a budget of promises, but a budget of delivery,” aimed at turning stability into prosperity and ensuring the benefits of reform are shared across households and communities nationwide.
Ends
