President Bola Tinubu on Thursday laid the 2026 Appropriation Bill before a joint session of the National Assembly, proposing a total budget of N58.47 trillion.
The President disclosed that non-debt recurrent expenditure is estimated at N15.25 trillion, while capital expenditure is pegged at N26.08 trillion.
Tinubu said the 2026 budget assumptions are based on a crude oil price benchmark of $64.85 per barrel, daily production of 1.84 million barrels, and an exchange rate of N1,400 to the US dollar.
A breakdown of the proposal shows that defense and security received the highest allocation of N5.41 trillion, followed by infrastructure with N3.56 trillion.
Education was allocated N3.52 trillion, while the health sector is expected to receive N2.48 trillion in the budget proposal tagged “Budget of Consolidation, Renewed Resilience, and Shared Prosperity.”
