President Bola Tinubu, on Friday, presented a ₦58.47 trillion 2026 federal budget proposal to a joint session of the National Assembly.
The 2026 Budget is christened Budget of Consolidation, Renewed Resilience and Shared Prosperity, according to the President.
He added that the 2026 budget will witness a hard reset because, from April 2026, Nigeria will operate a single budget and there will be no rollover.
“This is a reset. A very hard one…By March 2026, all capital liabilities from the previous years will be fully funded. From April 2026, we will operate a single budget. No roll over…” he said.
Speaking during the budget presentation, Naijaonpoint reports that President Tinubu vowed that the government will show no mercy in the fight against terrorists, bandits, kidnappers and all other forms of criminality, promising to deal with them decisively.
“We will show no mercy to all those who commit acts of terrorism, banditry and kidnapping. We will fundamentally change how we confront terrorism and violent crimes…” President Tinubu declared.
A breakdown of the President’s presentation shows that the budget is anchored on a crude oil production of 1.84 million barrels per day, and an exchange rate of ₦1,400 to the US Dollar for the 2026 fiscal year.
In terms of sectoral allocation, defence and security took the lion’s share with ₦ 5.41 trillion, followed by infrastructure at ₦3.56 trillion.
Education got ₦3.52 trillion, just as health took ₦2.48 trillion in the proposal tagged, “Budget of Consolidation, Renewed Resilience and Shared Prosperity”.