The President presented the budget on Friday, proposing a capital expenditure of ₦26.08 trillion, while recurrent (non-debt) spending was put at ₦15.25 trillion.
President Bola Tinubu has presented a ₦58.47 trillion budget proposal for the 2026 fiscal year to a joint session of the National Assembly, outlining an ambitious spending plan focused on security, infrastructure development, and human capital investment.
The President presented the budget on Friday, proposing a capital expenditure of ₦26.08 trillion, while recurrent (non-debt) spending was put at ₦15.25 trillion.
The proposal is titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity.”
Tinubu said the 2026 budget is anchored on a crude oil benchmark price of US$64.85 per barrel, daily oil production of 1.84 million barrels, and an exchange rate of ₦1,400 to the US Dollar, reflecting the administration’s macroeconomic assumptions for the year.
According to details of the proposal, defence and security received the largest allocation, with ₦5.41 trillion, underscoring the government’s continued emphasis on tackling insecurity across the country.
Infrastructure followed closely with an allocation of ₦3.56 trillion, signaling sustained investment in roads, power, transportation, and other critical public assets aimed at boosting economic growth and productivity.
The education sector was allocated ₦3.52 trillion, while healthcare received ₦2.48 trillion, reflecting the administration’s focus on strengthening social services and improving the quality of life for Nigerians.
Presenting the budget, the President said the proposal builds on recent economic reforms and is designed to consolidate gains, strengthen resilience, and ensure that growth is shared across all segments of society.
The budget proposal will now be scrutinized by the National Assembly, where lawmakers are expected to debate its assumptions, allocations, and overall fiscal sustainability before passage into law.
Analysts say the size and structure of the 2026 budget highlight the government’s reliance on improved revenue performance and stable oil production, even as concerns remain over debt servicing, inflation, and the rising cost of governance.