Tinubu Presents ₦58.18trn 2026 Budget, Unveils Security Reset and Economic Recovery Plan

President Bola Ahmed Tinubu on Friday, December 19, 2025 presented a ₦58.18 trillion 2026 Appropriation Bill to a joint session of the National Assembly, declaring that Nigeria has moved from “survival to growth” following far-reaching economic and structural reforms.

The 2026 budget, themed “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” is aimed at stabilising the economy, strengthening security, promoting job-rich growth and deepening human capital development.

Addressing lawmakers, President Tinubu acknowledged the hardship caused by recent reforms but assured Nigerians that the sacrifices were yielding results.

“Though the reforms have not been painless, I assure Nigerians that their sacrifices are not in vain. The path of reform is seldom smooth, but it is the surest route to lasting stability and shared prosperity,” he said.

The President disclosed that Nigeria’s economy grew by 3.98 per cent in Q3 2025, up from 3.86 per cent in the same period of 2024, while inflation dropped steadily for eight consecutive months to 14.45 per cent in November 2025, down from 24.23 per cent in March.

He also revealed that Nigeria’s external reserves have climbed to a seven-year high of about $47 billion, providing over ten months of import cover.

Other improvements cited include increased oil production, stronger non-oil revenue through tax reforms, and renewed investor confidence.

President Tinubu outlined the key components of the 2026 budget as follows: Total Revenue: ₦34.33 trillion, Total Expenditure: ₦58.18 trillion, Debt Servicing: ₦15.52 trillion, Capital Expenditure: ₦26.08 trillion, Recurrent (Non-Debt) Expenditure: ₦15.25 trillion, Deficit: ₦23.85 trillion (4.28% of GDP).

The budget is benchmarked on: Oil price of $64.85 per barrel, Oil production of 1.84 million barrels per day, and Exchange rate of ₦1,400/$.

President Tinubu announced a major reset of Nigeria’s national security architecture, including a new national counterterrorism doctrine anchored on intelligence-driven operations and unified command.

“All armed groups operating outside state authority will be regarded as terrorists,” he declared, vowing zero tolerance for banditry, kidnapping, militias, violent cults and terror financing.

The budget allocates ₦5.41 trillion to defence and security, with emphasis on modernising the armed forces, intelligence-led policing and border surveillance.

Key sectoral allocations include: Education: ₦3.52 trillion, Health: ₦2.48 trillion, Infrastructure: ₦3.56 trillion

The President revealed that over 788,000 students have benefited from the Nigerian Education Loan Fund, while healthcare funding now accounts for 6 per cent of the total budget, excluding liabilities.

He also announced that Nigeria has secured over $500 million in U.S. support for health interventions.

Tinubu reaffirmed food security as a national priority, disclosing that the Bank of Agriculture plans to support the cultivation of one million hectares, create hundreds of thousands of jobs and boost agro-exports through mechanisation and affordable financing.

The President said procurement reforms and the Nigeria First Policy have reduced waste, accelerated contract delivery and prioritised Nigerian goods and services.

He pledged stricter enforcement, transparency and digitisation of revenue collection across government agencies to eliminate leakages.

President Tinubu urged the National Assembly to partner with the Executive to ensure effective budget implementation, stressing that “the most important budget is not the one announced, but the one delivered.”

“This is not a budget of promises, but a budget of consolidation, renewed resilience and shared prosperity,” he said.

He concluded by formally laying the 2026 Appropriation Bill before the National Assembly and prayed for unity and renewed hope for Nigeria.