Tinubu's 2026 Budget: A New Era of Economic Renewal

The Federal Executive Council (FEC) has given its nod to the 2026 budget, paving the way for President Bola Tinubu to present it to a joint session of the National Assembly this afternoon. The budget, themed "Budget of Consolidation, Renewed Resilience and Shared Prosperity," is expected to outline the government's spending priorities, revenue projections, and key policy directions for the coming fiscal year.

With a total expenditure of ₦58.47 trillion, the budget is expected to focus on economic stability, growth, and ongoing reforms. The government has set a conservative oil price benchmark of $64.85 per barrel and a budget exchange rate of ₦1,400 to one US dollar for the 2026 fiscal year.

According to President Tinubu, the budget is anchored on realism, prudence, and growth orientation, with a focus on improving the business and investment environment, promoting job-rich growth, and reducing poverty. The government also aims to strengthen human capital development, protect the vulnerable, and ensure security and peacebuilding.

Key allocations include ₦5.41 trillion for defence and security, ₦3.56 trillion for infrastructure, ₦3.52 trillion for education, and ₦2.48 trillion for health. The government has also earmarked ₦15.52 trillion for debt servicing and ₦26.08 trillion for capital projects.

In his speech, President Tinubu emphasized the need for fiscal discipline and transparency, stating that the government will spend with purpose, manage debt with discipline, and pursue broad-based, sustainable growth. He also highlighted the progress made in economic reforms, citing a 3.98% growth in Q3 2025 and a decline in inflation to 14.45% in November 2025. ¹ ² ³

The budget presentation is expected to be a significant event, with several state governors, including those of Imo, Ogun, Akwa Ibom, Cross River, Rivers, Delta, Niger, Lagos, and Kwara, in attendance. The event underscores the government's commitment to economic renewal and its determination to drive growth and development in Nigeria.

Would you like to know more about the 2026 budget allocations or the government's economic plans?