President Tinubu has presented a ₦58.47 trillion budget proposal for 2026 to the National Assembly—tagged the “Budget of Securing Opportunities for Prosperity.” The budget represents a significant increase from 2025’s ₦54.99 trillion and prioritizes infrastructure, security, education, and healthcare.
Key assumptions include $64.85 per barrel oil price, 2.06 million barrels daily production, and ₦1,800/$1 exchange rate. The President emphasized that the budget aims to consolidate gains from recent reforms while addressing Nigerians’ immediate needs.
Breakdown of the 2026 budget as presented by President Tinubu:
- Total Expenditure: ₦58.47 trillion
- Defence and Security: ₦5.41 trillion
- Infrastructure: ₦3.56 trillion
- Education: ₦3.52 trillion
- Health: ₦2.48 trillion
- Breakdown of Expenditure:
- Capital Expenditure: ₦26.08 trillion
- Recurrent (Non-Debt) Expenditure: ₦15.25 trillion
- Economic Assumptions:
- Crude oil benchmark price: US$64.85 per barrel
- Daily crude oil production: 1.84 million barrels per day
- Exchange rate: ₦1,400 to the US Dollar