President Bola Ahmed Tinubu on Friday presented the N58.18 trillion 2026 Appropriation Bill to a joint session of the National Assembly.
The budget, themed the “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” is designed to deepen macroeconomic stability, improve security outcomes, and accelerate growth in strategic sectors.
In his presentation, the president described the budget as an instrument for:
Consolidating economic reform gains from previous fiscal years.
Deepening competitiveness in non-oil revenue streams.
Promoting fiscal sustainability and transparency.
Improving quality of life by strengthening public services and infrastructure delivery.
Key Figures
Total Expenditure: N58.18 trillion
Projected Total Revenue: N34.33 trillion
Capital Expenditure: N26.08 trillion
Recurrent (Non-Debt) Expenditure: N15.25 trillion
Debt Servicing: N15.52 trillion
Budget Deficit: N23.85 trillion, estimated at 4.28% of GDP under the government’s fiscal framework.
Assumptions of 2026 Budget
Oil Benchmark Price: US$64.85 per barrel
Crude Oil Production: 1.84 million barrels per day
Exchange Rate Assumption: N1,400 to the US Dollar
Sectoral Allocations
Security and Defence: N5.41 trillion (the single largest sectoral allocation)
Infrastructure: N3.56 trillion
Education: N3.52 trillion
Health: N2.48 trillion