President Bola Tinubu has formally presented the 2026 Appropriation Bill, themed “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” to a joint session of the National Assembly. The total budget proposal stands at N58.47 trillion.
Key Budget Parameters and Allocations
The budget is built on critical economic assumptions, including a crude oil price benchmark of $64.85 per barrel, a daily production target of 1.84 million barrels, and an exchange rate of N1,400 to the US Dollar.
A breakdown of the expenditure shows:
· Capital Expenditure: N26.08 trillion
· Recurrent (Non-Debt) Expenditure: N15.25 trillion
Sectoral Highlights: Defence and Security Lead
In terms of sectoral allocation, defence and security received the largest share at N5.41 trillion, underscoring it as the administration’s top priority. This is followed by:
· Infrastructure: N3.56 trillion
· Education: N3.52 trillion
· Health: N2.48 trillion
The proposed budget now moves to the National Assembly for detailed review, debate, and passage into law.
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