Dare Babalola
President Bola Tinubu has unveiled the ₦58.47 trillion 2026 budget to the National Assembly, focusing on easing economic pressures on Nigerians.
The budget outlines capital recurrent (non-debt) expenditure of ₦15.25 trillion, aiming to boost infrastructure and public services amidst a challenging economic climate.
Tinubu pegged the capital expenditure at ₦26.08 trillion and put the crude oil benchmark at US$64.85 per barrel.
The budget is anchored on a crude oil production of 1.84 million barrels per day, and an exchange rate of ₦1,400 to the US Dollar for the 2026 fiscal year.
In terms of sectoral allocation, defence and security took the lion’s share with ₦ 5.41 trillion, followed by infrastructure at ₦3.56 trillion.
Education got ₦3.52 trillion, just as health took ₦2.48 trillion in the proposal tagged, “Budget of Consolidation, Renewed Resilience and Shared Prosperity”.
Recall that President Tinubu arrived at the National Assembly to present the 2026 appropriation bill.
Tinubu walked into the chamber of the house of representatives at exactly 3:00pm.
Key officials of the National Assembly, including Senate President Godswill Akpabio and Speaker of the House of Representatives, Tajudeen Abbas, and the National Chairman of the All Progressives Congress, APC, among others, are present at the event.
Earlier, the Federal Executive Council (FEC) had approved the 2026 Budget, clearing the way for its presentation to a joint session of the National Assembly by President Tinubu.
