Tinubu Tables ₦58.46trn 2026 Budget, As Security Tops Allocation

President Bola Tinubu on Thursday presented the 2026 Appropriation Bill to a joint sitting of the National Assembly, proposing a total expenditure of ₦58.46 trillion, with ₦15.25 trillion allocated for non-debt recurrent spending.

In his budget address, the President pegged capital expenditure at ₦26.08 trillion and set the crude oil benchmark for the 2026 fiscal year at $64.85 per barrel.

The proposal is anchored on an estimated crude oil production of 1.84 million barrels per day and an exchange rate of ₦1,400 to the US dollar.

A breakdown of sectoral allocations shows that defence and security received the highest share at ₦5.41 trillion, followed by infrastructure with ₦3.56 trillion.

The education sector was allocated ₦3.52 trillion, while health received ₦2.48 trillion in the budget titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity.”