President Bola Ahmed Tinubu on Friday presented the 2026 Appropriation Bill to a joint session of the National Assembly, describing it as a decisive step toward consolidating Nigeria’s economic reforms and steering the country toward sustained growth and shared prosperity.....KINDLY READ THE FULL STORY HERE▶

According to Nivo News, the President said the 2026 budget reflects the administration’s determination to stabilise the economy, strengthen resilience, and translate reforms into tangible benefits for Nigerians after more than two years of difficult but necessary policy adjustments. He acknowledged the pressures citizens and businesses have endured but assured that the sacrifices made during the reform period would yield lasting stability and improved living standards.

Tinubu noted that recent economic indicators show measurable progress, with economic growth rising to 3.98 per cent in the third quarter of 2025, inflation moderating for eight consecutive months, oil production improving due to enhanced security and sector reforms, and non-oil revenues expanding through better tax administration. He added that investor confidence is gradually returning, supported by renewed capital inflows and stronger private-sector participation, while external reserves have climbed to a seven-year high of about 47 billion dollars.

The President disclosed that revenue performance and expenditure under the 2025 budget were affected by transition challenges, with 18.6 trillion naira realised in revenue and 24.66 trillion naira spent as of the third quarter of the year. He explained that priority was given to completing outstanding 2024 capital projects, stressing that 2026 would mark a new era of stricter discipline in budget implementation. He said directives had been issued to key economic and finance officials to ensure the 2026 budget is executed strictly in line with approved timelines and allocations.

Tinubu revealed that the 2026 budget is anchored on four core objectives: consolidating macroeconomic stability, improving the business environment, promoting job-rich growth while reducing poverty, and strengthening human capital development with protections for the most vulnerable. He emphasised that government spending would be purposeful, debt managed with discipline, and growth pursued in a sustainable and inclusive manner.

The President put the projected total revenue for 2026 at 34.33 trillion naira, while total expenditure is estimated at 58.18 trillion naira, including 15.52 trillion naira for debt servicing. Capital expenditure is pegged at 26.08 trillion naira, with recurrent non-debt spending at 15.25 trillion naira, leaving a budget deficit of 23.85 trillion naira, representing 4.28 per cent of GDP. He said the assumptions underpinning the budget include a conservative oil price benchmark of 64.85 dollars per barrel, daily crude production of 1.84 million barrels, and an exchange rate of 1,400 naira to the dollar.

Tinubu said significant allocations have been made to critical sectors, with 5.41 trillion naira earmarked for defence and security, 3.56 trillion naira for infrastructure, 3.52 trillion naira for education, and 2.48 trillion naira for health. He stressed that security remains the foundation of development, warning that all armed groups operating outside state authority would be treated as terrorists under a restructured national security architecture.

On human capital development, the President highlighted expanded access to education through the Nigerian Education Loan Fund, which he said has supported over 788,000 students across tertiary institutions nationwide. He also disclosed that healthcare spending accounts for six per cent of the total budget and announced new international partnerships expected to unlock over 500 million dollars for health interventions in Nigeria.

Tinubu said the government would intensify investments in infrastructure, agriculture, and economic productivity, with renewed focus on mechanisation, irrigation, agro-processing, and value chains to enhance food security and create jobs. He added that procurement reforms and the Nigeria First Policy would promote local industries, reduce waste, and improve transparency across government operations.

The President concluded by stressing that the true measure of the 2026 budget would be its delivery, not its announcement, pledging improved revenue mobilisation, better spending discipline, and stronger accountability. He called on lawmakers to partner with the executive in steering the nation toward a more secure, competitive, and hopeful future as he formally laid the 2026 Appropriation Bill before the National Assembly.