Defence Gets N5.41trn As Tinubu Presents N58.18trn 2026 Budget Proposal
*FG allocates N3.56trn to infrastructure, N3.5trn for education, N2.48trn for health
*President talks tough on budget implementation, vows to enforce fiscal discipline
*PDP, CUPP slam 2026 proposed spending plan*Analysts express mixed reaction, warn against fiscal stress
Deji Elumoye, Chuks Okocha, James Emejo, Adedayo Akinwale, Sunday Aborisade, Juliet Akoje In Abuja and Nume Ekeghe in Lagos.
President Bola Tinubu yesterday presented a 2026 Appropriation Bill of N58.18 trillion to the National Assembly, prioritising security with a N5.41 trillion allocation to the defence and security sector in a renewed drive against rising insecurity.
This comes as the federal government steps up efforts to stabilise the economy, consolidate reforms and decisively confront insecurity across the country.
The proposed budget, tagged, “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” projected total revenue of N34.33 trillion and total expenditure of N58.18 trillion, including N15.52 trillion for debt service.
But the opposition parties led by the Peoples Democratic Party (PDP), described the 2026 appropriation bill as budget of renewed sufferings to Nigerians.
Equally, the Coalition of United Opposition Political Parties (CUPP), said many Nigerians view the proposed budget presentation with profound skepticism.
However, the proposed budget puts recurrent (non-debt) expenditure at N15.25 trillion, capital expenditure at N26.08 trillion, and a fiscal deficit of N23.85 trillion, representing 4.28 per cent of Gross Domestic Product.
Presenting the estimates, Tinubu said the figures were not mere accounting lines but a clear statement of national priorities, stressing that his administration remained committed to fiscal sustainability, debt transparency and value-for-money spending.
He explained that the budget assumptions were anchored on a conservative crude oil benchmark of $64.85 per barrel, 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.
Unveiling the sectoral allocations, the President said beyond defence and security, infrastructure would receive N3.56 trillion, education N3.52 trillion, and health N2.48 trillion, underscoring the administration’s focus on security, people and productivity.
According to him, the sectors were deliberately prioritised because they were mutually reinforcing.
“Without security, investment will not thrive. Without educated and healthy citizens, productivity will not rise. Without infrastructure, jobs and enterprise will not scale,” he said.
On national security, Tinubu announced a major policy shift, declaring that henceforth, any armed group or gun-wielding non-state actor operating outside state authority would be regarded and treated as terrorists.
He said the government was resetting the national security architecture and introducing a new national counterterrorism doctrine anchored on unified command, intelligence-driven operations, community stability and counter-insurgency.
The President listed bandits, militias, armed gangs, criminal networks, violent cult groups, forest-based armed collectives and foreign-linked mercenaries as falling under the new classification, alongside their financiers, arms suppliers, informants, ransom negotiators, and political protectors.
He added that politicians, traditional rulers, community and religious leaders who facilitate or encourage violent acts would equally be treated as terrorists. The objective, he said, was to dismantle terror networks comprehensively and restore public confidence in national security.
He explained that the N5.41 trillion earmarked for defence and security would strengthen modernisation of the Armed Forces, intelligence-driven policing, border security, technology-enabled surveillance and community-based peacebuilding.
He stressed that security spending would henceforth be tied to clear accountability and measurable outcomes.
On the economy, Tinubu acknowledged that the reform path pursued by his administration over the past two and a half years had not been painless.
Tinubu said, “Families and businesses have faced pressure; established systems have been disrupted; and budget execution has been tested.”
The President assured Nigerians that the sacrifices were not in vain and would yield lasting stability and shared prosperity.
He said the 2026 budget was designed to consolidate gains already recorded and turn recovery into improved living standards for households across the federation.
Citing recent economic indicators, the President said the economy grew by 3.98 per cent in the third quarter of 2025, inflation moderated for eight consecutive months to 14.45 per cent in November 2025, oil production improved, non-oil revenues expanded through better tax administration, and external reserves rose to about $47 billion, a seven-year high.
Reviewing the performance of the 2025 budget, Tinubu said as at the third quarter, the government recorded N18.6 trillion in revenue, representing 61 per cent of the target, and N24.66 trillion in expenditure, representing 60 per cent of the target.
He declared that 2026 would be a year of stronger discipline in budget execution, directing the Minister of Finance, the Minister of Budget and Economic Planning, the Accountant-General of the Federation and the Director-General of the Budget Office to ensure strict adherence to appropriated details and timelines.
The President also warned government-owned enterprises to meet their revenue targets, announcing plans to deploy end-to-end digitisation of revenue mobilisation, including standardised e-collections, interoperable payment platforms and real-time performance dashboards to block leakages and improve accountability.
Earlier, Senate President Godswill Akpabio described the budget presentation as a defining national conversation, stressing that nations make progress when the Executive and Legislature work in partnership rather than in conflict.
He said budgets reveal a nation’s true priorities and praised the Tinubu administration for taking tough but necessary reform decisions that were already yielding measurable gains in revenue mobilisation, fiscal discipline and investor confidence.
Akpabio assured the President of the full support of the National Assembly, saying lawmakers would continue to strengthen legal and budgetary frameworks for security, economic reform, governance and social protection in the national interest.
In his remarks, Speaker of the House of Representatives, Tajudeen Abbas, said the presentation symbolised democracy at its strongest and marked Nigeria’s transition from fiscal turbulence to a phase of stability, discipline and reform-driven growth.
He noted that although 2025 tested the economy, the lessons learned had reinforced the need for realism, discipline and diversification in budgeting.
Abbas assured Nigerians that the legislature would scrutinise the 2026 Appropriation Bill with urgency and diligence to ensure accountability and value for money, adding that with restored stability and renewed confidence, the foundations for shared prosperity were firmly in place.
The event was attended by the Vice President, Kashim Shettima; the Secretary to Government of the Federation, Senator George Akume; the Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila; members of the Federal Executive Council; other top government functionaries; leadership of the ruling APC led by the National Chairman, Prof. Nentawe Yilwatda, and state governors, among others.
Meanwhile, speaking after the budget presentation, key members of the Federal Executive Council and the legislature described the estimates as a decisive attempt to reset national planning, prioritise security and enforce fiscal discipline.
Speaking shortly after the presentation, the Minister of Information and National Orientation, Mohammed Idris, said the president’s proposal, christened the 2026 Budget of Consolidation, Resilience and Shared Prosperity, was designed to move beyond promises to practical implementation.
According to him, unlike previous budgets that often remained aspirational, the 2026 document directly addresses the major concerns of Nigerians, particularly insecurity, welfare and economic stability.
Idris noted that security remained the government’s foremost priority, reflected in what he described as a “significant allocation” to the sector.
He recalled President Tinubu’s firm declaration of “no mercy” for banditry, terrorism and violent crime, stressing that the administration was determined to confront criminal networks and those who aid and abet them.
He said the president had issued clear directives to security agencies to ensure Nigerians and residents alike could “sleep with their eyes closed” once again.
Beyond security, the minister said the president was equally focused on fiscal and budgetary discipline, with a clear intention to end the practice of running multiple budgets simultaneously.
Deputy Senate Leader, Senator Ashiru, described the interaction with the president as “exciting” and reassuring, noting Tinubu’s determination to keep Nigeria on track.
PDP: This is Budget of Renewed Suffering
The PDP described the 2026 appropriation bill as budget of renewed sufferings to Nigerians
Reacting to the budget bill, the PDP in a statement by the National Publicity Secretary, Ini Ememobong, stated: ”In response, we see it rather as a budget of consolidated renewed sufferings, because what Nigerians have witnessed since the birth of this administration is nothing but unmitigated hardship on the people, while the governing class relishes in affluence.”
Ememobong, also said that Nigerians have suffered greatly from many economic woes under the Tinubu’s administration.
According to the PDP spokesman, ”President Tinubu cited a 3.98 percent GDP growth rate as evidence of economic stabilisation under his administration.
”However, it is well established that economic growth alone does not and cannot guarantee improved living standards for citizens.
”According to the 2025 World Bank Poverty & Equity Brief, more than 30.9 percent of Nigerians live below the international extreme poverty line. “This shows that there is growth without prosperity for our citizens, meaning that despite GDP growth, poverty remains endemic.
”This clearly indicates that whatever economic gains exist are not reaching the majority of Nigerians.”
Furthermore, the PDP spokesman stated: ”Today, the President celebrates a 3.98 percent growth rate, whereas a reality check reveals excruciating hunger, a high cost of living, and other indices of economic hardship, which Nigerians are currently facing.
”While we acknowledge the security allocation in the 2026 budget, we must remind the government and Nigerians that allocation alone is insufficient.
”We therefore demand effective and transparent execution to ensure that security funding translates into tangible improvements -modern equipment, adequate ammunition, improved intelligence capabilities, and better welfare for security personnel who are currently engaged in different theatres of armed conflict, where criminal non-state actors are alleged to possess superior arms compared to our security forces.”
He noted that overall, the PDP was “deeply concerned about the unapologetic admission by the President that the execution of the 2024 capital budget had been extended to December 2025, while the 2025 budget is still in force.
”This confirms the long-standing rumours of the concurrent operation of multiple budgets.
This cannot be described as best practice, as every budget has a defined period of operation and no two budgets should operate concurrently.
“The operation of different budgets at the same time undermines fiscal discipline, transparency, and accountability. These multiple budgetary regimes show yet another unprecedented negative feat by this APC Bola Tinubu-led administration.”
CUPP: It is a Budget Without Compliance, Scrutiny
The Coalition of United Opposition Political Parties (CUPP) in its reaction to the Appropriation Bill, said many Nigerians viewed the budget presentation with profound skepticism.
In a statement by the National Secretary, CUPP, Peter Ameh, the group argued that the distrust stemmed from a pattern of poor budget implementation, lack of transparency, and unfulfilled promises under the current administration.
He further stated that, ”despite the hasty reforms like subsidy removal which should have ordinarily free up money for investment by reducing pressure on national revenue, what we are witnessing is increased borrowing and poor spending culture by the government, the government has failed to deliver tangible improvements in infrastructure, security, or economic relief, leaving citizens to bear the brunt of hardship.”
According to the CUPP scribe, ”A major source of frustration is the absence of accountability and lack of transparency for prior budgets.
“No comprehensive budget implementation report for 2025 has been published by the Budget Office of the Federation, marking the first time in 15 years that quarterly performance reports have been withheld.
“This opacity violates fiscal responsibility laws and fuels suspicions of mismanagement.
”As Nigerians, we rightly ask: How can a new budget be proposed when the performance of the current one remains unknown? The administration’s concurrent operation of overlapping budget cycles—extending 2024 capital spending into 2025 while introducing new plans—exacerbates this chaos, leading to poor execution and carryover of unexecuted capital projects whose survival is dependent on more borrowing to bridge the deficit.”
Analysts Express Mixed Reactions over 2026 Appropriation Bill
Analysts yesterday, expressed mixed reactions to the 2026 Appropriation Bill, highlighting both optimism over its priorities and concerns over fiscal sustainability.
Some analysts raised concerns over the realism of the federal government’s targets, warning that widening deficits, weak revenue performance and repeated capital expenditure rollovers signal growing fiscal stress that could undermine recent reform gains.
The Chief Executive Officer of CFG Advisory, Tilewa Adebajo, said the government must urgently rein in its budget size, noting that Nigeria has consistently failed to meet its fiscal targets in recent years.
Speaking to THISDAY, he said: “I think we really need to start cutting down on the budget because we have not been able to meet those targets. We need to start looking at the fiscal side of things now because the fiscal space is the biggest threat to our economic recovery right now.
“All the gains we have made from the reforms could be lost if we don’t manage the fiscal space. I think it’s now time for us to review the Fiscal Responsibility Act and update it in line with the medium-term debt strategy that we’ve just concluded with the World Bank and IMF.
“You know, it’s not about budgeting because we cannot have a N23 trillion deficit, that’s not sustainable. The deficits have doubled, gone from N11 trillion to N12 trillion to N23 trillion, so the deficits are getting higher, and we cannot continue to fund them.
“Our borrowing is not in a good space. And if you take a look at the numbers, a lot of them are contradictory. We have a lot of contradictory numbers and a lot of issues.”
Beyond the deficits, Adebajo pointed to persistent challenges with capital spending, noting that unimplemented portions of previous budgets have been repeatedly rolled forward.
He said the 2024 budget was rolled into 2025, while capital expenditure targets could not be met and were again deferred.
Also, reacting, Managing Director/Chief Executive, SD&D Capital Management Limited, Mr. Idakolo Gbolade, described the proposed appropriation as a “bold step by the federal government to consolidate on its achievements in the last budget cycle although over 70 per cent of capital expenditure would be carried over to 2026 according to Minister of Finance Mr. Wale Edun.”
However, he pointed out that budgetary allocations to defence, infrastructure, education and health were the highest, demonstrating the government’s determination to create a stable environment for growth.
He urged the National Assembly to look critically into all the budgetary projections and allocations to ensure that the budgetary framework remained realistic.
Gbolade said, “Security is very critical to investment growth and investors’ confidence and the present insecurity being experienced in the country is a great disservice to economic growth and prosperity.
“Allocating the highest percentage of the budget and implementing the budgetary allocation can help to steady our growth trajectory. Infrastructure received the second highest budgetary allocation which also shows the seriousness of the government to deepen growth because with infrastructure comes development and job creation which will effectively oil the economy.”
Continuing, Gbolade said, “The education and health sector also received corresponding high budgetary allocations and if properly implemented will help us strengthen our human resources which is our most valuable asset as a country.
“The 2026 budget will greatly help to stabilise and grow our economy if it can be effectively implemented by releasing corresponding funding for these critical sectors of the economy.”
In his contribution, the Head of Financial Institutions Ratings at Agusto & Co., Ayokunle Olubunmi, expressed doubts about the credibility of the budget projections, especially in light of weak performance in recent fiscal years.
“I’m not sure this projection is realistic, particularly given the performance of the 2024 and 2025 budgets, although the implementation reports have not been made public,” Olubunmi said.
“We are still looking for the implementation report of the 2025 budget. From the snippets we are hearing, there was gross underperformance.”
He added: “I’m not sure this projection is realistic, particularly given the performance of the 2024 and 2025 budgets, although the implementation reports have not been made public.
“We don’t even know how many budgets we are implementing now.”
