President Bola Ahmed Tinubu presented the 2026 Appropriation Bill to a joint session of the National Assembly, unveiling a ₦58.18 trillion budget themed “Consolidation, Renewed Resilience, and Shared Prosperity.”
The budget aims to strengthen fiscal discipline by ending overlapping budgets and fully funding past capital liabilities by March 31, 2026.
Projected revenue stands at ₦34.33 trillion, with ₦15.52 trillion allocated for debt servicing and ₦26.08 trillion for capital expenditure. The deficit is expected at ₦23.85 trillion, about 4.28% of GDP.
“This is a reset, a very hard one,” Tinubu said. “By April, Nigeria will operate on a single budget, backed by a single revenue cycle. No overlaps, no excuses, no rollovers culture.”
Highlighting economic progress, the President noted 3.98% GDP growth in Q3 2025 and eight months of falling inflation.
Key sectors funded include defense (₦5.41 trillion), infrastructure (₦3.56 trillion), education (₦3.52 trillion), and health (₦2.48 trillion).
Tinubu stressed security modernization and a tough stance on terrorism and violent crime, promising no mercy for perpetrators.
He also emphasized investments in education, healthcare, and agriculture, including support for 780,000 students and plans to cultivate one million hectares of farmland.
Procurement reforms and a “Nigerian First” policy aim to boost efficiency and local industry.
“Our 2026 budget is anchored on realism, prudence, and growth,” said Tinubu.
“We will spend with purpose, manage debt with discipline, and pursue broad-based, sustainable growth.”
He called for partnership with the National Assembly to ensure better revenue mobilization, spending, and accountability.
Senate President Godswill Akpabio praised the budget and Tinubu’s leadership, underscoring the need for collaboration between government branches.
The budget now moves to the National Assembly for approval.
