Tinubu’s 2026 Federal Budget: Key Points to Know

President Bola Tinubu has presented the 2026 Appropriation Bill to the National Assembly, describing the proposal as one anchored on realism, prudence, and economic growth. The budget outlines a total revenue projection of ₦34.33tn and a total expenditure of ₦58.18tn, with ₦15.52tn earmarked for debt servicing.

According to Special Adviser to the President on Media and Publicity, Bayo Onanuga, recurrent (non-debt) expenditure is estimated at ₦15.25tn, while capital expenditure will amount to ₦26.08tn. The budget deficit is expected to be ₦23.85tn, representing 4.28% of the country’s Gross Domestic Product.

The budget is based on conservative assumptions, including a crude oil benchmark of $64.85 per barrel, crude oil production of 1.84 million barrels per day, and an average exchange rate of ₦1,400 to the US Dollar. Sectoral allocations reflect the administration’s Renewed Hope Agenda, with ₦5.41tn allocated to defence and security, ₦3.56tn to infrastructure, ₦3.52tn to education, and ₦2.48tn to health.

The budget aims to deliver a coherent programme of national renewal, with priorities interlinked to drive investment, productivity, and job creation. President Tinubu’s administration remains committed to fiscal sustainability, debt transparency, and value-for-money spending.