Presidency Increases 2026 Budget
By Akeem Oduyoye
The Presidency has raised the 2026 Federal Government budget from N54.46 trillion to N58.18 trillion, following plans for massive recruitment into the military, police, and other security agencies, President Bola Tinubu announced recently. The Director-General of the Budget Office, Mr. Tanimu Yakubu, disclosed the revised figure after Friday’s Federal Executive Council (FEC) meeting, held shortly before the president presented the budget to the National Assembly.
A source within the Presidency explained that the Ministries, Departments and Agencies (MDAs) had already submitted their budget proposals to the Budget Office under the usual Budget Call Circulars before the decision to expand security personnel. The increase was therefore necessary to cover the financial requirements of the new intakes.
Friday’s FEC session, which lasted less than two hours, did not allow for detailed deliberations on the budget. Mr. Yakubu was subsequently directed to brief the State House Press to authenticate the figures. The source added that the president moved quickly to present the budget to the National Assembly to demonstrate commitment to its early passage, noting that the details would be finalised as the legislative process continues.
The proposed 2026 budget of N58.18 trillion represents a six per cent rise over the 2025 estimate of N49.7 trillion. It includes projected spending by government-owned enterprises of N4.98 trillion and N1.37 trillion for grants and donor-funded projects. Statutory transfers are set at N4.1 trillion, while debt service totals N15.52 trillion, including N3.388 trillion for the sinking fund to retire maturing obligations.
Personnel costs, including pensions, are projected at N10.75 trillion, up seven per cent from 2025, while overhead costs stand at N2.22 trillion. Rising non-oil revenues, now accounting for roughly two-thirds of total receipts, indicate a structural shift away from oil dependence.
With projected revenue of N34.33 trillion and total expenditure of N58.18 trillion, the budget deficit will be N23.85 trillion, equivalent to 4.28 per cent of GDP. Recurrent (non-debt) spending is estimated at N15.25 trillion, while capital expenditure totals N26.08 trillion.
Security tops sectoral allocations with N5.41 trillion, followed by infrastructure (N3.56 trillion), education (N3.52 trillion), and health (N2.48 trillion). The budget underscores the government’s focus on national security, critical infrastructure, and human development as it prepares for the 2026 fiscal year.