Tinubu’s 2026 Budget Signals Hard Choices, Push For Growth
President Bola Tinubu on Friday laid before the National Assembly a 2026 Federal Budget that underscores a delicate balancing act between fiscal discipline and the pressing needs of a reforming economy.
Anchored on realism, prudence and growth, the proposed budget projects total revenue of ₦34.33 trillion against planned expenditure of ₦58.18 trillion, including ₦15.52 trillion earmarked for debt servicing.
Capital spending takes a significant share at ₦26.08 trillion, while recurrent (non-debt) expenditure stands at ₦15.25 trillion.
The deficit of ₦23.85 trillion represents 4.28 per cent of GDP.
Beyond the figures, the President said the budget reflects clear national priorities and a firm commitment to fiscal sustainability, debt transparency and value-for-money spending.
The framework is guided by the 2026-2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper, built on a conservative oil price benchmark of $64.85 per barrel, daily production of 1.84 million barrels, and an exchange rate assumption of ₦1,400 to the dollar.
Sectoral allocations align with the Renewed Hope Agenda, with ₦5.41 trillion proposed for defence and security, ₦3.56 trillion for infrastructure, ₦3.52 trillion for education and ₦2.48 trillion for health.
According to the President, the interlinked focus on security, human capital and infrastructure is aimed at creating a coherent pathway for national renewal, boosting productivity, investment and inclusive growth in the years ahead.
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