*Defence takes N5.41trn lion’s share 

President Bola Tinubu has presented a budget of N58.47 trillion for the 2026 fiscal year to a joint session of the National Assembly, with capital recurrent (non‑debt) expenditure standing at N15.25 trillion.

Tinubu presented the budget on Friday, pegging the capital expenditure at N26.08 trillion, pegging crude oil benchmark at US$64.85 per barrel.

He put the expected total revenue at N34.33 trillion, projected total expenditure: N58.18 trillion, including N15.52 trillion for debt servicing. 

The budget was anchored on crude oil production of 1.84 million barrels per day, and exchange rate of N1,400 to the US Dollar for the 2026 fiscal year.

In terms of sectoral allocation, defence and security was allocated the lion’s share of N 5.41 trillion, followed by infrastructure put at N3.56 trillion.

Education was allocated ₦3.52 trillion, while health received ₦2.48 trillion in the budget, titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity.”

While stating that the budget prioritises infrastructure development, including transport, energy, and agricultural reforms, to unlock private capital and drive economic growth, President Tinubu emphasised the importance of accountability and transparency in budget execution, with focus on strengthening procurement discipline, monitoring, and reporting.

Earlier in his remark, the Senate President, Godswill Obot Akpabio, highlighted the importance of collaboration between the executive and legislative arms of government in driving national progress.

Akpabio noted the National Assembly’s legislative output, including landmark bills on security, economic reform, governance, and infrastructure development.

While acknowledging the challenges ahead, including insecurity, economic hardship, and the need for improved living standards, the Senate President called on Nigerians to support government’s reform efforts and work together to build a stronger, more prosperous nation.