Budget: Tinubu lays ₦58.18trn before National Assembly for 2026

President Bola Ahmed Tinubu has laid a ₦58.18 trillion 2026 Appropriation Bill to a joint session of the National Assembly for approval.

The budget shows robust security measures, stricter fiscal discipline, and deeper economic reforms.

Presenting the proposal budget tagged “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” before the national assembly of Friday, the President said the budget is aimed at consolidating recent macroeconomic gains, restoring investor confidence, and translating economic recovery into jobs and improved living standards for Nigerians.

Tinubu, who began his address at 3:31 pm, described the moment as “defining” in Nigeria’s reform journey, acknowledging the hardship caused by reforms over the past two and a half years while assuring Nigerians that their sacrifices were not in vain.

“I appear before this Joint Session of the National Assembly, in fulfilment of my constitutional duty, to present the 2026 Appropriation Bill,” the President said.

The budget allocates ₦25.68 trillion to capital expenditure, representing roughly 44% of the total, with a primary focus on completing ongoing national projects. This is balanced against ₦15.26 trillion for recurrent non-debt expenditure and ₦15.52 trillion dedicated to debt servicing, which highlights the ongoing cost of managing Nigeria’s debt profile.

Furthermore, personnel costs, including pensions and government-owned enterprise expenses, are projected at ₦10.75 trillion.

A central theme of the President’s presentation was the shift toward ward-based development, which aims to drive economic growth from the bottom up across all 8,809 political wards in the country. Key priorities include rebuilding security to restore productivity on farmlands and in urban centers, as well as sustaining the “Renewed Hope Infrastructure Fund” to modernize transport and power networks.