Abuja: President Asiwaju Bola Ahmed Tinubu presented the 2026 Appropriation Bill to the Joint Session of the National Assembly, emphasizing a pivotal moment in Nigeria’s reforms and economic transformation. The budget, themed ‘Budget of Consolidation, Renewed Resilience and Shared Prosperity’, seeks to enhance macroeconomic stability and ensure growth translates into jobs and improved living standards for Nigerians.
According to News Agency of Nigeria, President Tinubu highlighted the achievements of his administration over the past two and a half years, including economic growth, a decline in inflation, and improvements in oil production and non-oil revenues. The president acknowledged the challenges faced by families and businesses due to the reforms but assured the nation that these efforts are laying a foundation for lasting stability and shared prosperity.
The 2026 Budget outlines key fiscal targets, with expected total revenue of 34.33 trillion naira and projected total expenditure of 58.18 trillion naira. It includes significant allocations for defense and security, infrastructure, education, and health, aligning with the government’s objectives to consolidate macroeconomic stability, improve the business environment, promote job-rich growth, and strengthen human capital development.
President Tinubu stressed the importance of fiscal discipline in budget execution for 2026. The administration aims to improve revenue performance through tax reforms and enhanced transparency in the oil and gas sector. The government has also mandated end-to-end digitization of revenue mobilization to seal leakages and ensure prompt remittances.
The president emphasized the role of national security as the foundation of development, with investments in modernizing the armed forces and enhancing intelligence-driven policing. The budget also prioritizes education and healthcare, with expanded access to higher education and partnerships for health interventions.
In terms of infrastructure, the budget focuses on strengthening agricultural markets, promoting food security, and unlocking private capital for economic productivity. Procurement reforms are also underway to enhance efficiency and support local industries through the Nigeria First Policy.
President Tinubu concluded by underscoring the budget’s commitment to better revenue mobilization, spending prioritization, and accountability. He called for unity between the Executive and the Legislature to fulfill the Renewed Hope Agenda and guide Nigeria towards a more secure, competitive, and equitable future.