Defence and security have emerged as the top priorities in the proposed ₦58.18 trillion 2026 budget presented by President Bola Ahmed Tinubu to the National Assembly, reflecting heightened concerns over insecurity across the country.
Of the total allocation, ₦5.41 trillion is earmarked for defence and security, the largest share of the budget. Other priority sectors include infrastructure, which received ₦3.56 trillion; education, ₦3.52 trillion; and health, ₦2.48 trillion.
Presenting the 2026 Appropriation Bill at a joint sitting of the Senate and the House of Representatives in Abuja, President Tinubu said the fiscal year would mark a decisive break from past weaknesses in budget execution, pledging stricter discipline, accountability and results-driven spending.
He disclosed that he had issued firm directives to key economic managers to ensure full implementation of the budget in line with approved details and timelines, stressing that fiscal indiscipline and revenue leakages would no longer be tolerated.
According to the President, the 2026 budget—tagged “Budget of Consolidation, Renewed Resilience and Shared Prosperity”—will be funded largely through improved revenue performance following recent tax reforms and restructuring in the oil and gas sector.
Tinubu said the reforms were aimed not only at raising revenue but at rebuilding Nigeria’s fiscal architecture and restoring confidence in public finance management. He directed heads of government-owned enterprises to meet their revenue targets, warning that remittances to the federation account would no longer be optional.
He added that the government would deploy end-to-end digitisation of revenue collection to block leakages, improve compliance and ensure timely remittances.
Outlining the fiscal framework, the President said projected revenue for 2026 stands at ₦34.33 trillion, while total expenditure is estimated at ₦58.18 trillion, including ₦15.52 trillion for debt servicing. Capital expenditure is projected at ₦26.08 trillion, while recurrent non-debt spending is put at ₦15.25 trillion. The budget deficit of ₦23.85 trillion represents 4.28 per cent of GDP, which he described as manageable.
Tinubu noted that the budget is anchored on four key objectives: consolidating macroeconomic stability, improving the business and investment climate, promoting job-rich growth while reducing poverty, and strengthening human capital with special protection for vulnerable citizens.
On national security, the President warned that security spending would now be tied to measurable outcomes, declaring that any armed group operating outside state authority would be treated as a terrorist organisation. He announced a reset of the national security architecture, including the introduction of a new national counterterrorism doctrine.
The President also reaffirmed the government’s commitment to human capital development, infrastructure expansion and food security, describing agriculture and food production as core national security issues.
“The greatest budget is not the one we announce; it is the one we deliver,” Tinubu said, pledging stronger revenue mobilisation, disciplined spending and enhanced accountability in 2026.
The Federal Executive Council had earlier approved the 2026 budget proposal, clearing the way for its presentation to the National Assembly. Lawmakers, led by Senate President Godswill Akpabio and Speaker of the House of Representatives Tajudeen Abbas, pledged full legislative support to ensure the successful passage and implementation of the budget for the benefit of Nigerians.
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2025-12-13