President Bola Ahmed Tinubu has presented Nigeria’s 2026 budget, outlining a total expenditure of ₦58.47 trillion, with a focus on security, infrastructure, education, and health.
The budget allocates ₦5.41 trillion to defence and security, underscoring the government’s commitment to maintaining national safety and tackling internal threats.
Infrastructure development is set to receive ₦3.56 trillion, reflecting efforts to modernize roads, transport networks, and energy projects across the country.
Education has been earmarked ₦3.52 trillion, while the health sector will receive ₦2.48 trillion, highlighting continued investment in human capital and public services.
The expenditure is further broken down into capital and recurrent spending. Capital expenditure—funds earmarked for development projects—is projected at ₦26.08 trillion, while recurrent (non-debt) expenditure stands at ₦15.25 trillion.
Economic assumptions underpinning the budget include a crude oil benchmark price of US$64.85 per barrel and a daily production target of 1.84 million barrels, indicating reliance on oil revenue for fiscal planning.
The budget also assumes an exchange rate of ₦1,400 to the US Dollar, which will guide revenue projections and import-dependent expenditures.
Analysts note that the budget reflects a balance between developmental priorities and maintaining fiscal discipline amid fluctuating global oil prices.
The government’s allocation to security suggests that internal and border security will remain a top priority in 2026.
Investment in infrastructure and education signals an ongoing focus on economic growth, job creation, and improving the standard of living for Nigerians.
Health sector funding demonstrates continued efforts to strengthen healthcare delivery, expand access, and improve public health outcomes.
Capital expenditure dominating the budget highlights the government’s intention to prioritize long-term development projects that stimulate economic activity.
Recurrent spending aims to maintain essential government operations while controlling non-essential expenditure.
Economic assumptions, particularly oil price and production targets, will be critical to the government’s ability to meet revenue expectations and fund planned initiatives.
The 2026 budget sets a framework for Nigeria’s fiscal policy, combining social investment, economic growth measures, and security priorities to drive national development.
