Tinubu Presents N58.18 Trillion 2026 Budget, Allocates N5.41 Trillion to Security

President Bola Tinubu on Friday presented the 2026 federal budget of N58.18 trillion to a joint session of the National Assembly, earmarking N5.41 trillion for defence and security, roughly 9.3% of total expenditure.

The budget, themed “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” aims to strengthen macroeconomic stability, boost competitiveness, and ensure inclusive growth across Nigeria. Tinubu said security remains the foundation for investment and national development.

Budget Anchored on Prudence, Growth, and Realism

Highlighting the key figures, the President said the budget anticipates total revenue of N34.33 trillion, recurrent expenditure of N15.25 trillion, and capital expenditure of N26.08 trillion. The projected deficit of N23.85 trillion, representing 4.28% of GDP, aligns with the administration’s fiscal framework.

Tinubu emphasized that the budget is built on realism, prudence, and growth orientation, reflecting strategic priorities rather than mere accounting lines. “These numbers are a statement of national priorities,” he said, stressing transparency, debt accountability, and value-for-money spending.

The budget projections assume a crude oil benchmark of US$64.85 per barrel, production of 1.84 million barrels per day, and an exchange rate of N1,400 to the US Dollar for 2026.

Tinubu Prioritizes Key Sectors

The 2026 budget prioritizes healthcare, allocating 6% of funds, alongside investments in infrastructure, agriculture, and private-sector development to enhance food security and economic resilience.

Tinubu outlined specific agricultural reforms, including input financing, mechanization, irrigation, storage, and agro-value chains, aimed at reducing post-harvest losses and improving farmers’ incomes.

“These priorities are interconnected. Without security, investments cannot thrive. Without educated and healthy citizens, productivity cannot rise. Without infrastructure, jobs and enterprises cannot scale,” he said.

Senate Opens Intense Debate As Nigeria’s Security Crisis Deepens

The proposed budget represents a 5.8% increase over the 2025 appropriation of N54.99 trillion, reflecting the government’s commitment to building a more secure and competitive Nigeria.