President Bola Ahmed Tinubu, GCFR, has presented the 2026 Appropriation Bill to a joint session of the National Assembly, describing it as a “Budget of Consolidation, Renewed Resilience and Shared Prosperity.” The presentation took place on Friday, 19 December 2025.
Addressing lawmakers, the President said the budget represents a milestone in Nigeria’s journey of reform and economic transformation. He highlighted that over the past two and a half years, his administration has tackled structural weaknesses, stabilised the economy, rebuilt confidence, and laid the foundation for a more resilient, inclusive, and dynamic Nigeria.
“Though necessary, the reforms have not been painless. Families and businesses have faced pressure, and systems have been disrupted. Yet, I assure Nigerians that their sacrifices are not in vain,” Tinubu said. “Today, I present a Budget that consolidates our gains, strengthens our resilience, and takes this country from out of the dark tunnel of hopelessness, from survival to growth.”
The President outlined key achievements under his administration, including:
Economic growth of 3.98% in Q3 2025, up from 3.86% in Q3 2024. A decline in headline inflation to 14.45% in November 2025 from 24.23% in March. Improvements in oil production and expansion of non-oil revenues through better tax administration. A rise in external reserves to a seven-year high of US$47 billion, covering over 10 months of imports.
Tinubu said the 2026 budget would focus on consolidating macroeconomic stability, deepening competitiveness, creating jobs, improving incomes, and ensuring a better quality of life for all Nigerians.
The total expenditure for 2026 is projected at ₦58.18 trillion, with total revenue of ₦34.33 trillion and a deficit of ₦23.85 trillion, representing 4.28% of GDP. Capital expenditure is pegged at ₦26.08 trillion.
Key sector allocations include:
Defence and Security – ₦5.41 trillion Infrastructure – ₦3.56 trillion Education – ₦3.52 trillion Health – ₦2.48 trillion
Tinubu also outlined reform measures to enhance budget implementation, including digitisation of revenue collection, improved accountability, and performance monitoring of government agencies.
He emphasised that the budget is not a set of promises but a plan for tangible results. “The most significant budget is not the one we announce; it is the one we deliver,” he said.
The 2026 Appropriation Bill is expected to guide fiscal policy in line with the Renewed Hope Agenda, focusing on security, human capital, infrastructure, and economic productivity while ensuring transparency and efficiency in public spending.
President Tinubu concluded by urging the Executive and the Legislature to work together to deliver on the budget’s objectives. “With the resilience of the Nigerian people, we will deliver the full promise of the Renewed Hope Agenda,” he said.
