Tinubu Unveils ₦58.37trn 2026 budget, Declares End To Waste, Fiscal Indiscipline

President Bola Ahmed Tinubu on Friday presented a ₦58.37 trillion 2026 national budget to a joint session of the National Assembly, pledging strict and disciplined implementation, stronger revenue mobilisation, and an uncompromising fight against wasteful spending.

Presenting the Appropriation Bill, the President declared that the era of budget indiscipline was over, stressing that every naira spent must deliver measurable public value.

He described the proposal as a decisive break from wasteful governance, vowing that his administration would spend with purpose, manage debt with discipline, and enforce tougher public finance management.

The 2026 budget is anchored on projected revenue of ₦34.33 trillion, with a deficit of ₦23.85 trillion, representing about 4.28 per cent of Gross Domestic Product.

President Tinubu directed all ministries, departments, and agencies to meet their revenue targets, warning that failure to do so would attract sanctions.

In one of the strongest reform messages of his address, the President said the days of weak remittances and fiscal indiscipline were over, noting that government spending would henceforth be driven by outcomes rather than sentiment.

“We will continue to reduce waste, strengthen growth, and ensure that every naira spent delivers measurable public value,” he told lawmakers.

He reaffirmed his administration’s commitment to value-for-money spending, tighter procurement controls, and improved monitoring of capital projects, adding that recurrent expenditure would be tightly controlled while borrowing would be limited to growth-enhancing projects.

Defence and security received the highest allocation of ₦5.41 trillion, with the President describing national security as the foundation of development and stressing increased investment in technology-driven surveillance and intelligence.

“We will invest in security to secure lives, livelihoods, and the future of Nigeria,” he said.

Highlighting a strong push for infrastructure and human capital development, President Tinubu said infrastructure spending has been scaled up by 3.5 times, targeting roads, rail, power, and ports. Education was allocated ₦3.62 trillion, while health and social services received ₦2.48 trillion to deepen investment in human capital.

The President also outlined ongoing reforms in the oil and foreign exchange sectors, noting that the budget assumptions are based on improved crude oil production and a more stable exchange rate.

Citing gains already recorded, Tinubu pointed to the rollout of the Nigerian Education Loan Fund, NELFUND, which he said has impacted over 700,000 students, alongside healthcare reforms and expanded social programmes, as evidence that his administration’s reforms are yielding results.