President Tinubu unveils Nigeria’s largest-ever N58 trillion 2026 budget, declaring armed groups as terrorists while promising prosperity.
President Bola Tinubu presented a groundbreaking N58.18 trillion 2026 budget to Nigeria’s National Assembly on Friday. Moreover, the historic proposal marks a turning point in the nation’s economic recovery journey.
The President delivered his address at 3:31 pm during a joint legislative session. Additionally, he introduced sweeping security reforms alongside ambitious fiscal targets for the coming year.
Tinubu declared that all armed groups operating outside state authority would be classified as terrorists. Consequently, bandits, militias, and kidnappers now face unified counter-terrorism measures across Nigeria.
Furthermore, financiers and enablers of violence will also be designated as terrorists under the new framework. The security sector receives the largest allocation of N5.41 trillion in the budget.
Nigeria’s economy demonstrated clear improvement with 3.98% GDP growth recorded in Q3 2025. Meanwhile, inflation has moderated consistently for eight consecutive months to 14.45% in November.
External reserves climbed to approximately $47 billion by mid-November 2025, reaching a seven-year high. This milestone provides over 10 months of import cover for the country.
Oil production has improved significantly while non-oil revenues continue to strengthen across various sectors. Therefore, investor confidence is rising steadily in Nigeria’s economic prospects.
2026 Budget breakdown and priorities
The 2026 fiscal framework projects total revenue at N34.33 trillion for the year ahead. However, total expenditure stands at N58.18 trillion, creating a deficit of N23.85 trillion.
Debt servicing accounts for N15.52 trillion of the total spending allocation. Capital expenditure totals N26.08 trillion, while recurrent non-debt spending reaches N15.25 trillion.
Comments
Post a Comment