The Most Significant Budget Is Not The One We Announced, But The One We Deliver - Tinubu

President Bola Ahmed Tinubu on Friday presented the 2026 Appropriation Bill, titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” to a joint session of the National Assembly in Abuja, underscoring the urgency of converting fiscal plans into tangible outcomes for Nigerians.

The presentation at the Senate Chamber brought together members of both the Senate and the House of Representatives, fulfilling the president’s constitutional duty to lay before the legislature the proposed budget framework and expenditure priorities for the coming year.

In his address, Tinubu acknowledged the hardships many Nigerians have faced amid ongoing reforms and economic pressures, but he framed the 2026 budget as an instrument to turn resilience into improved living standards.

He said the significance of a budget lies not merely in its announcement but in its execution, emphasizing that “the most significant budget is not the one we announced but the one we deliver.” Tinubu contextualised the proposal against efforts to stabilise the economy, rebuild confidence and strengthen growth prospects across sectors. 

The 2026 budget proposal outlines government plans and priorities in the wake of structural reforms undertaken over the past two and a half years, with the president telling lawmakers that consolidation of gains and institutional strengthening are central to the fiscal strategy. The budget has been framed to support macroeconomic stability, deepen competitiveness and translate growth into jobs, incomes and better quality of life for Nigerians, according to the theme presented during the joint session.

The proposed federal budget for 2026 is set at N54.46 trillion in aggregate expenditure, with N34.33 trillion projected as retained revenue. Fiscal forecasts included significant borrowing of N17.88 trillion, a fiscal deficit of about N20.13 trillion, and continued emphasis on balancing expenditure priorities against available resources.

Under the proposal, total recurrent (non-debt) expenditure is estimated at N15.27 trillion, reflecting the government’s obligations to personnel, operations and statutory services, while capital expenditure is projected at N20.13 trillion, excluding statutory transfers and a Sinking Fund provision. Statutory transfers to subnational governments are estimated at N3.15 trillion, with a projected Sinking Fund of N388.54 billion included in the fiscal framework.

Tinubu’s presentation to the National Assembly marked a key milestone in Nigeria’s budget cycle, with further legislative scrutiny and debate expected in coming weeks as the legislature considers appropriation details and associated fiscal assumptions.