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Tinubu Presents ₦58.18trn 2026 Budget To National Assembly

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President Bola Ahmed Tinubu on Friday presented a ₦58.18 trillion 2026 Appropriation Bill to a joint session of the National Assembly, outlining plans to consolidate economic reforms, boost growth and improve living standards for Nigerians.

The budget, tagged “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” aims to sustain recent macroeconomic gains and strengthen investor confidence while translating recovery into jobs and economic opportunities.

SEE ALSO: ‘Nigeria Cannot Wait’ — NANS Urges Tinubu To Declare State of Emergency On Insecurity

Addressing lawmakers, Tinubu said the presentation marked a defining moment in Nigeria’s reform journey, acknowledging the pains of recent economic adjustments but assuring citizens that their sacrifices were not in vain.

The President said Nigeria’s economy was showing clear signs of stability, citing a 3.98 per cent GDP growth in the third quarter of 2025, eight consecutive months of easing inflation to 14.45 per cent in November 2025, improved oil production and stronger non-oil revenues.

He disclosed that Nigeria’s external reserves had climbed to a seven-year high of about $47 billion, providing more than ten months of import cover.

“These outcomes reflect difficult but deliberate policy choices,” Tinubu said, stressing that the focus was now on ensuring stability translates into shared prosperity.

2026 fiscal framework

Under the proposal, total revenue is projected at ₦34.33 trillion, while total expenditure stands at ₦58.18 trillion, including ₦15.52 trillion earmarked for debt servicing.

Recurrent (non-debt) expenditure is estimated at ₦15.25 trillion, while capital expenditure is pegged at ₦26.08 trillion. The budget deficit of ₦23.85 trillion represents 4.28 per cent of GDP.

The budget assumptions include a crude oil benchmark of $64.85 per barrel, daily production of 1.84 million barrels, and an exchange rate of ₦1,400 to the dollar.

Sectoral allocations

Security tops sectoral allocations with ₦5.41 trillion, followed by infrastructure (₦3.56 trillion), education (₦3.52 trillion) and health (₦2.48 trillion).

Tinubu said investments in education, health, agriculture and infrastructure would be prioritised to drive inclusive growth and economic resilience.

Budget execution

The President admitted that the implementation of the 2025 budget faced challenges, noting that by the third quarter, ₦18.6 trillion in revenue and ₦24.66 trillion in expenditure had been recorded.

He pledged stricter budget discipline in 2026, directing finance and budget authorities to ensure full compliance with appropriated timelines and details.

“The greatest budget is not the one we announce, but the one we deliver,” Tinubu said as he laid the bill before lawmakers.

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Military Gear Found at Ondo Crash Site as Helicopter Burns to Rubble

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Military gear has reportedly been found at the scene of a helicopter crash in Igbokoda, headquarters of Ilaje Local Government Area of Ondo State.

The helicopter crashed in a swampy area of the coastal community on Monday, October 5, 2026, sparking panic among residents.

The Chairman of Ilaje Local Government Area, Maurice Oripelaye, said military personnel and equipment were seen at the crash site, raising the possibility that the aircraft could have been a military helicopter.

READ ALSO:Shell Endorses Regional Action Plan for Safe Helicopter Services

However, the identity of the helicopter and its operator had not been officially established as of the time of filing this report.

Oripelaye said the aircraft crashed near the Naval Base area and was burnt to rubble following the incident.

He also said the number of people who were aboard the helicopter could not immediately be ascertained, while the fate of those on board remained unclear.

Earlier, residents reported hearing a loud sound from the direction of the crash before discovering that an aircraft had gone down in the swampy area.

The difficult terrain has also made access to the crash site challenging, with security personnel and other responders deployed to the area.

The Ondo State Police Command has confirmed the aircraft crash and said investigations are ongoing to establish the circumstances surrounding the incident.

The police urged residents of Igbokoda and adjoining communities to remain calm and avoid spreading unverified information, promising to provide further details as credible information becomes available.

 

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JUST IN: Oluremi Tinubu Arrives BATICC for APC Women’s Pre-Inaugural Ceremony Arrives BATICC for APC Women’s Pre-Inaugural Ceremony

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Nigeria’s First Lady, Senator Oluremi Tinubu, has arrived at the Bola Ahmed Tinubu International Conference Centre (BATICC) in Abuja for the All Progressives Congress (APC) Women Stakeholders’ Mobilisation and Empowerment Pre-Inaugural Campaign Roll-Out.

The First Lady arrived at the conference centre on Monday, October 5, for the women-focused political gathering organised by the Women Mobilisation Directorate of the APC Presidential Campaign Council ahead of the 2027 general elections.

The event is themed “Renewed Hope Agenda 2.0: From Reforms to Prosperity,” with the mobilisation message, “One Voice, One Movement, One Choice, One Mandate 2027.”

SEE ALSO: Tinubu Gov’t Does Not Engage, Everybody Is Its Enemy — Ajaero

The gathering is expected to bring together thousands of women from across the country, including women leaders, professionals, entrepreneurs, political stakeholders, community representatives and grassroots organisers.

20,000 women expected

The arrival follows a report published on Sunday, October 4, which said Oluremi Tinubu was expected to lead a major mobilisation of women stakeholders in Abuja.

According to the report, more than 20,000 women were expected to attend the Women Stakeholders’ Mobilisation and Empowerment Pre-Inaugural Campaign Roll-Out scheduled for 8am at BATICC.

The APC Women Mobilisation Directorate has also announced an ambitious target of mobilising 40 million women’s votes for President Bola Tinubu and Vice-President Kashim Shettima ahead of the 2027 presidential election.

Director of the Women Mobilisation Directorate of the APC Presidential Campaign Council, Dr Betta Edu, disclosed the target ahead of the gathering and said the structure was expanding its grassroots mobilisation across the country.

Speaking ahead of the event, a member of the APC Presidential Campaign Council Women Mobilisation Planning Committee, Princess Gloria Akobundu, highlighted programmes including the Nigerian Education Loan Fund (NELFUND), CREDICORP, infrastructure projects, cash-transfer programmes and youth empowerment initiatives.

Akobundu urged women in Imo State and across the South-East to strengthen their mobilisation structures and take the Renewed Hope Agenda message to communities across the region.

She said, “We are calling on our women across the South-East to strengthen their mobilisation and ensure that the message of the Renewed Hope Agenda reaches every community and locality.”

 

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‘Nigerians Still Exposed to Kidnappers Despite Subsidy Savings for Security’ – Atiku

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PDP Threatens INEC Over Delay In Presidential Election Results

Former Vice President Atiku Abubakar has criticised the Federal Government over the continued exposure of Nigerians to kidnappers, questioning the impact of savings from fuel subsidy removal on national security.

Atiku disclosed this in a statement on Monday while reacting to the abduction of 20 travellers, including prospective National Youth Service Corps (NYSC) members, in Imo State.

He described the abduction as “heartbreaking,” noting that although some of the victims had been rescued, others remained in captivity.

SEE ALSO: Fuel Subsidy: Atiku Showing Symptoms of Desperation — Afegbua

Atiku urged the Federal Government, Imo State Government and security agencies to act with urgency to secure the release of all those still being held.

He also raised concern over more than 70 pupils and students abducted from Mussa and Lassa in Borno State who, according to him, have remained in captivity for months.

“These children must not be forgotten. Their families deserve clear updates, and the public deserves answers,” he said.

The former vice president questioned the government’s handling of insecurity, recalling President Bola Tinubu’s promise that savings from the removal of fuel subsidy would help fund security.

“Yet Nigerians remain exposed to kidnappers on our roads, in our communities and around our schools,” Atiku said.

He said young Nigerians were facing danger at different stages of their lives, from secondary school to university and now while travelling to NYSC camps.

“Young people face danger in secondary school, struggle with unaffordable fees at university, and are now targets on their journeys to NYSC camps. This is a generation being failed at every stage,” he said.

Atiku also criticised the award of what he described as huge pipeline security contracts to politically connected companies, while ordinary Nigerians continue to face criminals.

“The first duty of government is to protect lives,” he stated.

He called for the immediate and safe rescue of every abducted young person and the return of those still unaccounted for.
Atiku also reaffirmed his commitment to building a safer and more affordable Nigeria where young people can create, build and prosper.

“My promise to build a safer and more affordable Nigeria, where young people can create, build and prosper, remains unshakable,” he said.

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