President Bola Tinubu has said that the 2026 federal budget is anchored on realism, prudence, and growth oriented policies, aimed at ensuring fiscal sustainability and delivering measurable value to Nigerians.
Presenting the key aggregates of the budget, the President said the total expected revenue stands at N34.33 trillion, while projected total expenditure is N58.18 trillion, including N15.52 trillion earmarked for debt servicing.
Recurrent, non-debt expenditure is set at N15.25 trillion, while capital expenditure is projected at N26.08 trillion.
The budget deficit is estimated at N23.85 trillion, representing 4.28 per cent of GDP.
The president says these numbers are not just accounting lines but a statement of national priorities stressing the government’s commitment to fiscal sustainability, debt transparency, and value-for-money spending.
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The President explained that the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper provides the basis for the budget, with projections built on a conservative crude oil benchmark of US$64.85 per barrel, crude oil production of 1.84 million barrels per day, and an exchange rate of N1,400 to the US dollar for the 2026 fiscal year.
He further emphasized that the government will continue to reduce waste, strengthen controls, and ensure that every naira borrowed or spent delivers tangible public value, particularly in critical sectors such as infrastructure, human capital development, and national security.
President Tinubu described the 2026 budget as a roadmap for economic growth, fiscal discipline, and long-term stability, underscoring the administration’s commitment to prudent financial management.
(Editor: Ebuwa Omo-Osagie)
