Nigerian President Bola Tinubu has presented a ₦58.1 trillion budget proposal for the 2026 fiscal year to the National Assembly. Titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” the plan allocates ₦15.25 trillion for capital recurrent expenditure and ₦26.08 trillion for capital expenditure. The crude‑oil benchmark is set at $64.85 per barrel, with an expected total revenue of ₦34.33 trillion and a budget deficit of ₦23.85 trillion, representing 4.28 % of GDP.
In terms of sectoral allocation, defense and security receive the largest share at ₦5.41 trillion, followed by infrastructure at ₦3.56 trillion. Education and health are allocated ₦3.52 trillion and ₦2.48 trillion, respectively. President Tinubu emphasized that the budget reflects national priorities and the government’s commitment to fiscal sustainability, debt transparency, and value‑for‑money spending.
The presentation comes amid heightened insecurity in parts of the country. The government outlined measures to address the challenge, including modernising the Armed Forces, intelligence‑driven policing, and joint operations. Tinubu assured Nigerians that the economy has stabilised after the removal of fuel subsidies and the floating of the naira, which had triggered a spike in inflation. He pledged to invest in critical infrastructure and ensure food security, describing these as “strategic investments that unlock private capital.”
The 2026 budget prioritises input financing and mechanisation, irrigation and climate‑resilient agriculture, storage and processing, and agro‑value chains. The aim is to reduce post‑harvest losses, improve incomes for smallholders and deepen agro‑industrialisation, thereby fostering a more resilient and diversified economy. The proposal is expected to be debated and approved by the National Assembly in the coming weeks.
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