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Tinubu Presents ₦58.18trn 2026 Budget, Declares Armed Groups Terrorists

President Bola Ahmed Tinubu present budget

Tinubu Presents ₦58.18trn 2026 Budget, Declares Armed Groups Terrorists

President Bola Ahmed Tinubu on Friday presented a ₦58.18 trillion 2026 Appropriation Bill to a joint session of the National Assembly, unveiling tougher security measures, stricter fiscal discipline and deeper economic reforms aimed at consolidating recent macroeconomic gains.

Tagged the “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” the proposal seeks to stabilise the economy, restore investor confidence and translate recovery into jobs and improved living standards for Nigerians.

Addressing lawmakers, Tinubu declared that all armed groups operating outside state authority would henceforth be treated as terrorists, signalling a major shift in Nigeria’s national security doctrine. He warned that bandits, militias, kidnappers, violent cult groups, forest-based armed collectives and foreign-linked mercenaries — as well as their financiers and enablers — would face decisive action.

The President said Nigeria’s economy was showing signs of stabilisation, citing 3.98 per cent GDP growth in Q3 2025, inflation moderation for eight consecutive months to 14.45 per cent, improved oil production, stronger non-oil revenue, and rising investor confidence. He disclosed that external reserves rose to a seven-year high of about $47 billion, providing more than 10 months of import cover.

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Under the 2026 fiscal framework, total revenue is projected at ₦34.33 trillion, while total expenditure stands at ₦58.18 trillion, including ₦15.52 trillion for debt servicing. Capital expenditure is estimated at ₦26.08 trillion, recurrent (non-debt) spending at ₦15.25 trillion, with a budget deficit of ₦23.85 trillion, representing 4.28 per cent of GDP. Budget assumptions include an oil price benchmark of $64.85 per barrel, production of 1.84 million barrels per day, and an exchange rate of ₦1,400/$.

Security tops sectoral allocations with ₦5.41 trillion, followed by infrastructure (₦3.56 trillion), education (₦3.52 trillion) and health (₦2.48 trillion).

Tinubu acknowledged challenges in the 2025 budget implementation but pledged tighter discipline in 2026, directing finance and budget authorities to ensure strict adherence to approved timelines and details. He ordered government-owned enterprises (GOEs) to meet revenue targets, backed by full digitisation to curb leakages.

On social sectors, the President said over 418,000 students have benefitted from the Nigerian Education Loan Fund, while health spending accounts for six per cent of the total budget, excluding liabilities. He also reaffirmed the government’s commitment to food security through agricultural mechanisation, irrigation, climate-resilient farming and agro-value chain development.

“The greatest budget is not the one we announce, but the one we deliver,” Tinubu said, expressing confidence that cooperation between the executive and legislature would ensure successful implementation of the 2026 budget and advance the Renewed Hope Agenda.