By Bashir Bello
Nigeria’s President Bola Ahmed Tinubu has officially presented the 2026 Appropriation Bill to a joint session of the National Assembly, the ₦58.4 trillion budget is Tagged the “Budget of Consolidation, Renewed Resilience, and Shared Prosperity,” the fiscal plan outlines the administration’s strategic priorities for the year ahead and marks a significant turning point in Nigeria’s economic trajectory.
In his address, President Tinubu declared that by March 31, 2026, all outstanding capital liabilities from previous years would be fully settled. From April 2026, Nigeria will transition to a single, unified budget framework, eliminating the long standing practice of rollovers and delayed obligations.
“This is a defining moment in our national journey,” the President stated. “Over the past two years, we have confronted economic challenges head on and laid a durable foundation for a more resilient and dynamic Nigeria.”
He acknowledged the sacrifices made by citizens during the reform process, emphasizing that the road to recovery has not been easy.
“The reforms have tested us all. But I assure Nigerians that their sacrifices are not in vain. We have emerged from the shadows of economic uncertainty, and this budget will take us from survival to sustainable growth.”
The 2026 budget is anchored on a benchmark oil price of $68 per barrel and an exchange rate of ₦1,400 to the US dollar. It comprises: Capital Expenditure of ₦26.8 trillion, Recurrent Expenditure of ₦15.2 trillion Naira with a Projected Revenue of ₦34.33 trillion and a Budget Deficit of ₦23.45 trillion
In a bold move to address Nigeria’s security challenges, President Tinubu said the administration has allocated ₦5.41 trillion to the security sector. This investment will support technology enabled surveillance, intelligence gathering, and community based peacebuilding initiatives.
Other key allocations include, Infrastructure Development:* ₦3.56 trillion, Education ₦3.5 trillion while Health and Social Services gets ₦2.48 trillion
President Tinubu reaffirmed his administration’s commitment to tackling terrorism, banditry, and sectarian violence, describing national security as the bedrock of peace and development.
He also highlighted the return of investor confidence, noting that the implementation of the 2025 budget exposed the depth of Nigeria’s fiscal challenges. He pledged that 2026 would usher in a new era of budgetary discipline, with strict adherence to appropriated details and timelines.
“This budget is a commitment to our people,” he concluded. “It is a promise that we will build a nation where prosperity is shared, resilience is renewed, and progress is sustained.”
In his welcome address, Senate President Godswill Akpabio praised the Tenth Senate for achieving one of the highest legislative outputs in its history over the past year. He cited the passage of landmark bills on security, economic reform, governance, judicial administration, electoral integrity, infrastructure, and social protection.
“We must remain faithful to our democratic ideals, steadfast in our values, and united in purpose,” Akpabio said. “I hold an unshakable belief that the finest chapters of Nigeria’s story still lie ahead.”
Speaker of the House of Representatives, Rt. Hon. Tajudeen Abbas, commended the President’s commitment to a unified fiscal framework, describing it as a step toward restoring order, clarity, and accountability in public finance.
He emphasized that the introduction of new National Tax Acts would enhance transparency and efficiency in Nigeria’s fiscal architecture. The 2026 budget, he noted, is guided by clear objectives, to consolidate macroeconomic gains, improve the business environment, promote job creation, reduce poverty, and strengthen human capital development.
“The strong prioritization of security is critical,” Abbas stated. “Security remains the foundation of development, investment, and social cohesion.”
He added that with tax reforms expanding the revenue base and strengthening non oil income, the 2026 budget is anchored on sustainability not borrowed promises.
The Speaker assured Nigerians that the National Assembly would scrutinize the budget with urgency, patriotism, and diligence, ensuring that every Naira delivers value.
“Stability has returned, confidence is rising, fiscal order is strengthening, and the foundations for shared prosperity are firmly in place,” he concluded.
