President Bola Tinubu has presented the 2026 budget of ₦58.47 trillion to a joint session of the National Assembly, with capital recurrent (non debt) expenditure standing at ₦15.25 trillion.
President Tinubu pegged the capital expenditure at ₦26.08 trillion and put the crude oil benchmark at US$64.85 per barrel. The budget is anchored on a crude oil production of 1.84 million barrels per day, and an exchange rate of ₦1,400 to the US Dollar for the 2026 fiscal year.
In terms of sectoral allocation, defence and security took the lion’s share with ₦ 5.41 trillion, followed by infrastructure at ₦3.56 trillion.
Education got ₦3.52 trillion, just as health took ₦2.48 trillion in the proposal tagged, “Budget of Consolidation, Renewed Resilience and Shared Prosperity”.
