President Bola Tinubu has presented a ₦58.47 trillion budget for the 2026 fiscal year to a joint session of the National Assembly. The budget, titled "Budget of Consolidation, Renewed Resilience and Shared Prosperity", outlines projected total expenditure of ₦58.18 trillion, with capital expenditure standing at ₦26.08 trillion.

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. The expected total revenue is ₦34.33 trillion, with ₦15.52 trillion earmarked for debt servicing.

Capital recurrent (non-debt) expenditure is pegged at ₦15.25 trillion. The budget deficit is ₦23.85 trillion, representing 4.28% of GDP. Defence and security took the lion's share of the allocation, with ₦5.41 trillion, followed by infrastructure at ₦3.56 trillion.

Education received ₦3.52 trillion, while health received ₦2.48 trillion in the proposal. Addressing lawmakers, Tinubu described the budget as a statement of national priorities, emphasizing commitment to fiscal sustainability, debt transparency, and value-for-money spending.

The president stressed that the budget is not "just accounting lines", but a reflection of the country's priorities. He reiterated the government's commitment to ensuring fiscal discipline and delivering on its promises to the Nigerian people.

The budget proposal has been sent to the National Assembly for consideration and approval. If passed, it will shape the country's economic direction for the 2026 fiscal year.

The allocations to key sectors underscore the government's focus on security, infrastructure development, education, and healthcare, with the aim of driving economic growth and improving the lives of Nigerians.