President Bola Ahmed Tinubu on Friday presented the ₦58.46 trillion 2026 Appropriation Bill to a joint session of the National Assembly, outlining the fiscal priorities of his administration for the coming year.
The President disclosed that the proposed budget provides for ₦15.25 trillion in non-debt recurrent expenditure, while capital expenditure stands at ₦26.08 trillion, underscoring a strong focus on infrastructure and economic expansion.
Tinubu said the 2026 fiscal framework is anchored on a crude oil price benchmark of $64.85 per barrel, daily production of 1.84 million barrels, and an exchange rate assumption of ₦1,400 to the US dollar.
Under the proposal tagged “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” the defence and security sector received the largest allocation of ₦5.41 trillion, reflecting the government’s continued emphasis on tackling insecurity nationwide.
Infrastructure followed with an allocation of ₦3.56 trillion, while the education sector was allotted ₦3.52 trillion, reinforcing the administration’s commitment to human capital development.
The health sector received ₦2.48 trillion, as the government seeks to strengthen healthcare delivery and expand access to medical services across the country.
Tinubu’s budget presentation sets the stage for legislative scrutiny and debate in the coming weeks, as lawmakers consider the revenue assumptions, sectoral priorities and overall fiscal sustainability of the 2026 spending plan.