President Bola Tinubu on Friday presented a ₦58.47 trillion 2026 budget to a joint session of the National Assembly, outlining a fiscal blueprint framed around consolidation, resilience, and shared prosperity.
The proposal pegs capital expenditure at ₦26.08 trillion, while recurrent (non-debt) spending is set at ₦15.25 trillion. The budget assumptions rest on a crude oil benchmark of US$64.85 per barrel, daily production of 1.84 million barrels, and an exchange rate of ₦1,400 to the dollar for the 2026 fiscal year.
Defence and security dominate sectoral allocations with ₦5.41 trillion, underscoring the administration’s focus on stability. Infrastructure follows with ₦3.56 trillion, closely trailed by education at ₦3.52 trillion. Health is allocated ₦2.48 trillion.
The proposal, tagged the “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” signals an intent to stabilise the economy while investing in long-term growth.
