The President of Nigeria, His Excellency, Asiwaju Bola Ahmed Tinubu, GCFR, presented the 2026 Appropriation Bill, themed “Budget of Consolidation, Renewed Resilience and Shared Prosperity”, to the Joint Session of the National Assembly, Abuja, Friday, 19 December 2025, for consideration.
According to the President, the budget represents a defining moment in the nation’s journey of reform and transformation.
He recounted that over the last two and a half years, his government had methodically addressed long‑standing structural weaknesses, stabilised the economy, rebuilt confidence, and laid a durable foundation for a more resilient, inclusive, and dynamic Nigeria.
The President did not fail to console Nigerians that the reforms have been nerve-racking, resulting in families and businesses being subjected to pressure; but he acknowledged the pressures and assured Nigerians that their sacrifices were not in vain, explaining that the path to reform is always bumpy, but that it was the surest route to lasting stability and shared prosperity.
The President enumerated the government’s achievements, including economic growth of 3.98 per cent in Q3 2025, up from 3.86 per cent in Q3 2024, and a decline in headline inflation to 14.45 per cent in November 2025 from 24.23 per cent in March 2025.
He mentioned that oil production has improved, supported by enhanced security, technology deployment, and sector reforms, while non‑oil revenues have expanded significantly through better tax administration.
He added that investor confidence is returning, reflected in capital inflows, renewed project financing, and stronger private‑sector participation, as the nation’s external reserves rose to a 7‑year high of about US47 billion dollars as of last month, providing over 10 months of import cover and a more substantial buffer against shocks.
Implications of Sectoral Allocations
The key sectoral allocations, which comprise defence and security, infrastructure, education, and health, amounting to #5.41 trillion, #3.56 trillion, #3.52 trillion, and #2.48 trillion, respectively, imply that Tinubu’s government is prioritising security stabilisation, economic growth through infrastructure, and human capital development via education and health.
This suggests that Nigeria is targeting immediate threats while laying the foundations for long-term prosperity.
Defence and Security
The Budgetary allocation of #5.41 trillion to defence and security indicates a frantic effort to combat terrorism, banditry, insurgency, and armed conflict.
Nigeria has had to battle insurgency since 2009, recording over 91,000 deaths to date. But analysts observe heavy spending on defence and security, though it may stabilise the polity, it risks crowding out social investment if not well managed.
However, the principal chunk of funds allocated to defence reflects the government’s recognition that insecurity undermines all other reforms. This will give the citizens assurance, meanwhile raising concerns about the militarisation of politics.
According to the President, the administration is resetting the national security architecture and establishing a new national counterterrorism doctrine—a holistic redesign anchored in unified command, intelligence gathering, community stability, and counterinsurgency.
Under this new architecture, any armed group or gun-wielding non-state actors operating outside state authority will be regarded as terrorists.
Bandits, militias, armed gangs, armed robbers, violent cults, forest-based armed groups, and foreign-linked mercenaries will all be targeted. We will go after all those who perpetrate violence for political or sectarian ends, along with those who finance and facilitate their evil schemes.
Infrastructure
The #3.56 trillion allocated to infrastructure will be concentrated on roads, power, and transport to enhance productivity, attract investment, and create jobs, thereby reducing regional inequality if projects are distributed equally.
Tinubu’s government has overseen 13 major federal road projects since 2023, combining inherited works with new initiatives.
Education
With #3.52 trillion allocated to education, the sector will see massive investment in schools and universities to build skilled manpower.
Since President Bola Tinubu assumed office in May 2023, the Nigerian Education Loan Fund (NELFUND) has disbursed over #154 billion in interest-free student loans to 788,947 students across 262 public tertiary institutions nationwide through Tertiary Education Trust Fund (TETFund).
#82 billion has been paid directly to 262 public tertiary institutions for tuition support, while #72 billion has been paid directly to students as monthly upkeep stipends, for a combined disbursement of #154.4 billion since the scheme began.
The huge allocation to education and health suggests an attempt to rebuild trust in government by addressing everyday needs.
President Tinubu expressed that no nation can grow beyond the quality of its people. The 2026 Budget strengthens investments in education, skills, healthcare, and social protection.
“In education, we are expanding access to higher education through the Nigerian Education Loan Fund. Over seven hundred and eighty-eight thousand students have been supported, in partnership with two hundred and twenty-nine tertiary institutions nationwide,” he said.
Health
As the health gulps #2.48 trillion, it will strengthen hospitals and primary care, as well as improve life expectancy and workforce productivity. Analysts believe it will reduce medical tourism and inequality in access to care.
President Tinubu’s 2026 “Budget of Consolidation, Renewed Resilience and Shared Prosperity” emphasises macroeconomic stability, security, job creation, poverty reduction, and human capital development.
With a total of #58.18 trillion, the budget signifies an attempt to move Nigeria, which has endured excruciating pain over years of painful reform, onto the path of growth, provided implementation, corruption, and project delays do not become a cog in the wheel of progress.