President Bola Ahmed Tinubu on Friday (today) presented the ₦58.18 trillion 2026 Appropriation Bill to a joint sitting of the National Assembly, declaring that Nigeria has begun to emerge from the most painful phase of its economic reforms and is now firmly positioned for consolidation, renewed resilience and shared prosperity.

Speaking at the National Assembly Complex in Abuja, the President said the 2026 Budget, themed “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” is designed to lock in recent macroeconomic gains, stabilise the economy and translate growth into jobs, rising incomes and improved living standards for Nigerians.

Tinubu acknowledged that the sweeping reforms implemented over the past two and a half years had imposed heavy burdens on citizens and businesses but assured Nigerians that the sacrifices were not in vain, stressing that early indicators such as improved economic growth, falling inflation and stronger external reserves show that the country is gradually turning a corner.

1. Tinubu Says 2026 Budget Is About Consolidating Painful Reforms

President Tinubu described the 2026 Appropriation Bill as a turning point after two and a half years of “difficult but necessary” economic reforms.

Acknowledging the hardship faced by Nigerians, he said families and businesses have endured pressure but insisted the sacrifices are beginning to pay off. The President said, “The path of reform is seldom smooth, but it is the surest route to lasting stability and shared prosperity.”

According to him, the 2026 Budget is designed to move Nigeria “from survival to growth.”

2. Economy Shows Signs of Recovery – Growth, Lower Inflation, Rising Reserves

Tinubu revealed that Nigeria’s economy is gradually stabilising, citing measurable improvements:

GDP grew by 3.98% in Q3 2025, up from 3.86% in 2024
Inflation fell for eight straight months to 14.45% in November 2025
External reserves rose to a 7-year high of about $47bn, covering over 10 months of imports

He said these gains were not accidental but the result of “difficult policy choices.”

3. ₦34.33 Trillion Revenue, ₦58.18tn Spending, ₦23.85tn Deficit

The President laid out the core figures of the 2026 Budget:

Total revenue: ₦34.33 trillion
Total expenditure: ₦58.18 trillion
Debt servicing: ₦15.52 trillion
Capital expenditure: ₦26.08 trillion
Budget deficit: ₦23.85 trillion (4.28% of GDP)

Tinubu said the figures reflect realism and commitment to fiscal sustainability.

4. FG to Enforce Strict Budget Discipline in 2026

Tinubu admitted that budget execution in 2025 was affected by transition challenges, noting that only 17.7% of capital budget was released by Q3.

He promised that 2026 would be different. “2026 will be a year of stronger discipline in budget execution,” Tinubu noted.

He said top finance and budget officials have been directed to ensure strict adherence to timelines and approved allocations.

5. New Tax Laws, Digitisation to Boost Revenue

The President said the government expects stronger revenue inflows from:

New National Tax Acts
Oil and gas sector reforms
End-to-end digitisation of revenue collection

Government-Owned Enterprises (GOEs) will now be held strictly accountable for revenue targets, with performance tied to evaluations.

“Nigeria can no longer afford leakages, inefficiencies, or underperformance,” the Nigerian leader said.

6. Four Clear Objectives Guide the 2026 Budget

Tinubu outlined four pillars driving the budget:

Consolidate macroeconomic stability
Improve the business and investment climate
Promote job-rich growth and reduce poverty
Strengthen human capital and protect the vulnerable

In his words: “We will spend with purpose, manage debt with discipline.”

7. Security Gets ₦5.41tn, New Counterterrorism Doctrine Announced

National security received the highest sectoral allocation at ₦5.41 trillion. Tinubu announced a new national counterterrorism doctrine, declaring that: “Any armed group or gun-wielding non-state actors operating outside state authority will be regarded as terrorists.”

Bandits, militias, kidnappers, cult groups and foreign mercenaries will be targeted under a unified security command.

8. Education, Health, Infrastructure Get Massive Funding

Key social and economic sectors received heavy allocations:

Education: ₦3.52 trillion
Health: ₦2.48 trillion (about 6% of total budget)
Infrastructure: ₦3.56 trillion

Tinubu disclosed that over 788,000 students have benefited from the Education Loan Fund, while Nigeria has secured $500m from the US for health interventions.