Tinubu Presents ₦58.18trn 2026 Budget, Declares Armed Non-State Actors Terrorists
•By Admin
ABUJA – PRESIDENT Bola Ahmed Tinubu on Friday presented a ₦58.18 trillion 2026 Appropriation Bill to a joint session of the National Assembly, unveiling what he described as a “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” while declaring that all armed non-state actors operating outside state authority would henceforth be treated as terrorists.
The President, addressing lawmakers at the National Assembly Complex in Abuja, said the 2026 budget was designed to lock in recent macroeconomic gains, strengthen national security, and translate economic recovery into improved living standards for Nigerians after two and a half years of difficult but necessary reforms.
“This is a defining moment in our national journey of reform and transformation,” Tinubu told senators and members of the House of Representatives. “The reforms were not painless, but they were unavoidable. The sacrifices of Nigerians are not in vain.”
Tinubu said the budget was prepared against the backdrop of improving economic indicators, arguing that Nigeria was moving from crisis management to consolidation.
He cited economic growth of 3.98 per cent in the third quarter of 2025, compared to 3.86 per cent in the same period of 2024, alongside eight consecutive months of declining inflation. Headline inflation, he said, had moderated to 14.45 per cent in November 2025 from a peak of 24.23 per cent in March.
“With stabilising food and energy prices, tighter monetary conditions, and improving supply responses, we expect the disinflationary trend to persist through 2026, barring major shocks,” the President said.
He also pointed to improved oil production, rising non-oil revenues driven by better tax administration rather than “excessive taxation,” renewed investor confidence, and a rebound in external reserves to about $47 billion as of mid-November 2025, representing over ten months of import cover.
“These outcomes are not accidental,” Tinubu said. “They reflect deliberate policy choices. Our task now is to ensure that stability becomes prosperity, and prosperity becomes shared prosperity.”
Reviewing the performance of the outgoing 2025 budget, Tinubu acknowledged execution challenges, particularly in capital spending, due to the transition period and the extension of the 2024 capital budget.
As of the third quarter of 2025, the Federal Government recorded ₦18.6 trillion in revenue, representing 61 per cent of the target, while expenditure stood at ₦24.66 trillion, about 60 per cent of projections. Only ₦3.10 trillion—roughly 17.7 per cent of the 2025 capital budget—had been released by Q3.
The President assured lawmakers that 2026 would mark a turning point in fiscal discipline and execution.
“I have issued clear directives to ensure that the 2026 budget is implemented strictly in line with appropriated details and timelines,” he said, warning that government-owned enterprises (GOEs) would be held to stricter revenue remittance standards.
He announced plans for end-to-end digitisation of revenue mobilisation across ministries and agencies, including automated reconciliation, real-time dashboards, and data-driven performance tracking to plug leakages and enforce accountability.
Under the proposed fiscal framework, the Federal Government expects total revenue of ₦34.33 trillion against projected expenditure of ₦58.18 trillion, including ₦15.52 trillion for debt servicing.
Recurrent non-debt expenditure is pegged at ₦15.25 trillion, while capital expenditure stands at ₦26.08 trillion. The budget deficit of ₦23.85 trillion represents 4.28 per cent of GDP.
Tinubu said the assumptions underpinning the 2026–2028 Medium-Term Expenditure Framework include a crude oil benchmark of $64.85 per barrel, daily production of 1.84 million barrels, and an exchange rate of ₦1,400 to the dollar.
“These figures are not mere accounting lines,” he said. “They reflect our commitment to fiscal sustainability, debt transparency, and value-for-money spending.”
Security Takes Centre Stage
Security emerged as one of the most striking elements of the President’s address, both in allocation and policy direction.
The 2026 budget proposes ₦5.41 trillion for defence and security, the largest single sectoral allocation, as Tinubu pledged a comprehensive reset of Nigeria’s security architecture.
“We are establishing a new national counterterrorism doctrine anchored on unified command, intelligence integration, community stability, and decisive counter-insurgency,” he said.
In a firm policy declaration that drew visible attention in the chamber, Tinubu said any armed group operating outside state authority would now be classified as terrorists.
“Bandits, militias, armed gangs, criminal networks with weapons, forest-based armed collectives, and foreign-linked mercenaries are terrorists,” he declared. “Anyone who finances, harbours, negotiates for, or protects them—including political, traditional, or religious leaders—will be treated as terrorists.”
The President said the objective was to eliminate ambiguity in law enforcement and send a clear signal that violent crime and territorial control by armed groups would no longer be tolerated.
Beyond security, Tinubu said the 2026 budget prioritised investment in people, with ₦3.52 trillion allocated to education and ₦2.48 trillion to health.
He highlighted the expansion of the Nigerian Education Loan Fund, which he said had supported over 418,000 students across 229 tertiary institutions, improving access to higher education amid economic pressures.
Healthcare spending, he noted, now accounts for about six per cent of the total budget, net of liabilities, while international partnerships—particularly with the United States—had opened access to over $500 million in health grants for targeted interventions.
“These resources will be deployed transparently and effectively,” he assured.
Infrastructure received ₦3.56 trillion, reflecting the administration’s emphasis on transport, energy, ports, and logistics as enablers of private investment and job creation.
Tinubu also placed strong emphasis on agriculture, describing food security as “national security.” The budget prioritises mechanisation, irrigation, climate-resilient farming, storage, processing, and agro-value chains to reduce post-harvest losses and stabilise food prices.
“These measures will improve farmer incomes, deepen agro-industrialisation, and strengthen economic resilience,” he said.
Concluding his address, Tinubu stressed that the credibility of the 2026 budget would depend not on its size, but on delivery.
“The greatest budget is not the one we announce, but the one we implement,” he said, outlining commitments to better revenue mobilisation, smarter spending, and stronger accountability.
He called for sustained cooperation between the Executive and the Legislature, urging lawmakers to see the budget as a national compact rather than a partisan instrument.
“With unity of purpose and the resilience of the Nigerian people, we will deliver the full promise of the Renewed Hope Agenda,” Tinubu said as he formally laid the 2026 Appropriation Bill before the National Assembly.
The budget proposal now moves to the legislature for scrutiny, debate, and possible amendments, setting the stage for what analysts expect to be a closely watched fiscal year amid security pressures, reform fatigue, and rising public expectations.
•INDEPENDENTNG.