PRESIDENCY RAISES 2026 FG BUDGET TO N58.18 TRILLION TO FUND SECURITY RECRUITMENT
The Federal Government has increased the 2026 budget from the N54.46 trillion initially outlined in the Medium-Term Expenditure Framework (MTEF) to N58.18 trillion, to cater for the recent large-scale recruitment into the military, police, and other security agencies announced by President Bola Tinubu.
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The Budget Office Director-General, Mr. Tanimu Yakubu, disclosed the revised figure following a Federal Executive Council (FEC) meeting on Friday, just hours before the president presented the budget to the National Assembly.
A Presidency source explained that submissions from Ministries, Departments, and Agencies (MDAs) had already been concluded before the announcement of expanded security personnel, making it necessary to increase the budget to cover the financial requirements of the new recruits.
The FEC meeting, which lasted less than two hours, did not involve detailed discussions on the budget. Mr. Yakubu was subsequently tasked to brief the State House Press to validate the figures. The source added that President Tinubu expedited the presentation of the budget to demonstrate commitment to its timely passage, noting that detailed adjustments would be made before the bill returns to the National Assembly for MDAs’ budget defense and other procedural steps.
The revised 2026 budget represents a 6% increase over the 2025 estimate of N49.7 trillion. It includes:
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Government-owned enterprises: N4.98 trillion
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Grants and donor-funded projects: N1.37 trillion
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Statutory transfers: N4.1 trillion
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Debt service: N15.52 trillion, including N3.388 trillion for the sinking fund to settle maturing obligations to local contractors and creditors
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Personnel costs (including pensions): N10.75 trillion, up 7% from 2025, with N1.02 trillion allocated to government-owned enterprises
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Overhead costs: N2.22 trillion
Non-oil revenues continue to grow, now accounting for roughly two-thirds of total receipts, reflecting a gradual shift away from oil dependence.
With a projected revenue of N34.33 trillion and total expenditure of N58.18 trillion, the 2026 budget anticipates a deficit of N23.85 trillion, equivalent to 4.28% of GDP. Recurrent (non-debt) spending is estimated at N15.25 trillion, while capital expenditure is projected at N26.08 trillion.
Sectoral allocations prioritize security at N5.41 trillion, followed by infrastructure (N3.56 trillion), education (N3.52 trillion), and health (N2.48 trillion).
