President Bola Tinubu on Thursday presented the 2026Appropriation Bill to a joint session of the National Assembly, proposing atotal budget of N58.46 trillion, with non-debt recurrent expenditure estimatedat N15.25 trillion. In his address, the President fixed capital expenditure atN26.08 trillion and set the crude oil price benchmark for the fiscal year atUS$64.85 per barrel. The budget projections are based on crude oil production of1.84 million barrels per day and an exchange rate of N1,400 to the US Dollarfor the 2026 fiscal year. A sector-by-sector breakdown shows that defence and securityreceived the largest allocation at N5.41 trillion, followed by infrastructurewith N3.56 trillion. Education was allotted N3.52 trillion, while the healthsector was earmarked N2.48 trillion under the proposal titled, “Budget ofConsolidation, Renewed Resilience and Shared Prosperity”.
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