By Abbanobi -Eku Onyeka
President Bola Ahmed Tinubu on Friday presented the 2026 Appropriation Bill, themed “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” to a joint session of the National Assembly in Abuja, the President described the budget presentation as a defining moment in Nigeria’s national journey of reform and transformation, highlighting the country’s efforts to confront structural weaknesses, stabilise the economy, and lay a foundation for a more resilient and inclusive nation.
Tinubu noted that the economic reforms implemented over the past two and a half years have yielded measurable results, including a 3.98% GDP growth in Q3 2025, moderating inflation, improved oil production, and increased non-oil revenues.
The 2026 budget prioritises security, human capital development, and infrastructure, with allocations of N5.41 trillion for defence and security, N3.56 trillion for infrastructure, N3.52 trillion for education, and N2.48 trillion for health.
The budget projects total revenue of N34.33 trillion, total expenditure of N58.18 trillion, and a budget deficit of N23.85 trillion, representing 4.28% of GDP.
According to the president, the budget is based on a conservative crude oil benchmark of $64.85 per barrel, crude oil production of 1.84 million barrels per day, and an exchange rate of N1,400 to the US Dollar, just as he directed improved budget execution, with a focus on completing priority projects, strengthening revenue mobilisation, and ensuring value-for-money spending.
Emphasised that security remains the foundation of development, with investments in modernising the armed forces, intelligence-driven policing, and community-based peacebuilding, he states that the budget strengthens investments in education, skills, healthcare, and social protection, with a focus on expanding access to higher education and improving healthcare outcomes.
While stating clearly that the budget prioritises infrastructure development, including transport, energy, and agricultural reforms, to unlock private capital and drive economic growth, Tinubu emphasised the importance of accountability and transparency in budget execution, with a focus on strengthening procurement discipline, monitoring, and reporting.
Earlier in his remark, Senate President Godswill Obot Akpabio welcomed the President, highlighting the importance of collaboration between the executive and legislative arms in driving national progress.
Akpabio noted the National Assembly’s legislative output, including landmark bills on security, economic reform, governance, and infrastructure development.
While acknowledging the challenges ahead, including insecurity, economic hardship, and the need for improved living standards, Akpabio called on Nigerians to support the government’s reform efforts and work together to build a stronger, more prosperous nation.
In conclusion, President Bola Ahmed Tinubu commended Nigerians for their resilience and patience, assuring them that the government remains committed to delivering on its promises and building a better future for all.
