Tinubu Assures Tighter Budget Discipline, Accountability in 2026 Budget Presentation

By Iyojo Ameh

President Bola Ahmed Tinubu on Friday presented the 2026 Appropriation Bill to a joint session of the National Assembly, declaring that the coming fiscal year would be marked by stricter discipline in budget execution, improved accountability and more effective monitoring of public spending.

The 2026 budget, titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” is aimed at consolidating recent economic reforms, strengthening macroeconomic stability and translating recovery gains into improved living standards for Nigerians.

Addressing lawmakers, Tinubu said he had directed key fiscal and accounting officials including the Minister of Finance and Coordinating Minister of the Economy, the Minister of Budget and Economic Planning, the Accountant-General of the Federation and the Director-General of the Budget Office — to ensure that the budget is implemented strictly in line with approved allocations and timelines.

“2026 will be a year of stronger discipline in budget execution and enhanced accountability in the management of public resources,” the President said.

The President said the budget was prepared amid signs of economic stabilisation following what he described as difficult but necessary reforms. He noted that Nigeria’s economy recorded a growth rate of 3.98 per cent in the third quarter of 2025, while inflation declined steadily for eight consecutive months to 14.45 per cent in November 2025.

Tinubu also cited improved oil production, stronger non-oil revenue performance, increased investor confidence and external reserves of about $47 billion, providing a buffer against economic shocks.

“These outcomes reflect deliberate policy choices. Our focus now is to consolidate these gains and ensure that stability translates into shared prosperity,” he said.

On the performance of the 2025 budget, Tinubu disclosed that as of the third quarter, government revenue stood at ₦18.6 trillion, representing 61 per cent of the target, while expenditure reached ₦24.66 trillion, or 60 per cent of projected spending.

He explained that capital releases in 2025 were constrained by the extension of the 2024 capital budget, adding that lessons from the transition period informed a firmer approach to budget execution in 2026.

The President said the 2026 budget projects total revenue of ₦34.33 trillion and total expenditure of ₦58.18 trillion, inclusive of ₦15.52 trillion for debt servicing.

Recurrent non-debt expenditure is estimated at ₦15.25 trillion, while capital expenditure is projected at ₦26.08 trillion. The budget deficit of ₦23.85 trillion represents 4.28 per cent of Gross Domestic Product.

The fiscal assumptions underpinning the budget include a crude oil benchmark of $64.85 per barrel, oil production of 1.84 million barrels per day, and an exchange rate of ₦1,400 to the dollar.

Tinubu said the budget prioritises security, infrastructure and human capital development. Proposed allocations include ₦5.41 trillion for defence and security, ₦3.56 trillion for infrastructure, ₦3.52 trillion for education and ₦2.48 trillion for health.

He stressed that security funding would be accompanied by measurable outcomes, as the administration rolls out a new national counterterrorism doctrine and reforms the criminal justice system to address terrorism, banditry and kidnapping.

In education, the President highlighted expanded access to student loans through the Nigerian Education Loan Fund, which has supported more than 418,000 students nationwide. He added that healthcare funding accounts for six per cent of the total budget, net of liabilities.

The President said government-owned enterprises would be held accountable for meeting revenue targets, with end-to-end digitisation of revenue collection to eliminate leakages and improve compliance.

“The greatest budget is not the one we announce, but the one we deliver,” Tinubu said, pledging prudent spending, improved revenue mobilisation and transparent reporting.

He called on lawmakers to support the proposals, expressing confidence that cooperation between the executive and legislative arms would ensure the successful implementation of the 2026 budget.

President Tinubu thereafter formally laid the 2026 Appropriation Bill before the National Assembly for legislative consideration.