President Bola Tinubu on Friday presented the 2026 Appropriation Bill to a joint session of the National Assembly, promising to consolidate ongoing economic reforms and steer Nigeria towards stability, resilience, and shared prosperity.

The President described the proposed budget, themed “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” as a defining step in Nigeria’s reform journey, coming after two and a half years of what he called tough but necessary economic decisions. According to him, the reforms were designed to stabilise the economy, restore confidence, and lay a solid foundation for long-term growth.

Tinubu acknowledged that the reform process had placed significant pressure on households and businesses but assured Nigerians that the sacrifices were not in vain. He said the 2026 fiscal framework is aimed at moving the country from survival to growth by consolidating macroeconomic gains, strengthening resilience against shocks, and ensuring that economic growth translates into jobs, higher incomes, and better living standards.

Highlighting recent gains, the President noted that Nigeria’s economy grew by 3.98 per cent in the third quarter of 2025, inflation had moderated for eight consecutive months, oil production had improved, and non-oil revenues had expanded through better tax administration. He also said external reserves had risen to about 47 billion dollars, providing a stronger buffer against economic shocks.

Presenting the budget figures, Tinubu said total 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, with a budget deficit of ₦23.85 trillion, representing 4.28 per cent of GDP. He stressed that the figures reflect realism, prudence, and a firm commitment to fiscal sustainability.

The President explained that the budget prioritises security, infrastructure, education, and health, describing these sectors as interconnected pillars of national development. He reaffirmed his administration’s resolve to strengthen national security through better-equipped armed forces, intelligence-driven policing, and a new counterterrorism doctrine that treats all armed non-state actors as terrorists.

On human capital development, Tinubu said investments in education and healthcare remain central to the Renewed Hope Agenda. He highlighted the expansion of student loans through the Nigerian Education Loan Fund and increased healthcare funding, alongside partnerships with international donors to strengthen health interventions across the country.

The President also emphasised agriculture and infrastructure as drivers of productivity, promising measures to boost food security, support farmers, and reduce post-harvest losses. He said procurement reforms and the Nigeria First Policy would promote local industries, reduce waste, and ensure better value for public spending.

Tinubu concluded by stressing that the true measure of the budget lies not in its announcement but in its delivery. He called for strong collaboration between the Executive and the Legislature, assuring Nigerians that 2026 would be marked by better revenue mobilisation, purposeful spending, and stronger accountability.

He urged lawmakers to support the appropriation bill, expressing confidence that with unity and resilience, Nigeria would continue on the path toward a more secure, competitive, and prosperous future.