2026 Budget: FG Unveils Massive Capital Drive to Unlock Jobs, Productivity
The Federal Government on Friday unveiled an aggressive capital spending plan in the 2026 budget, signalling a renewed push to unlock jobs, boost productivity and drive sustainable economic growth across the country.
President Bola Ahmed Tinubu, while presenting the 2026 Appropriation Bill to a joint session of the National Assembly in Abuja, announced a proposed capital expenditure of ₦26.08 trillion—one of the largest in Nigeria’s history—aimed at accelerating infrastructure delivery, stimulating private investment and expanding economic opportunities.
Tinubu said the scale of capital investment reflects his administration’s determination to move Nigeria from economic survival to growth, stressing that productive spending, not consumption, would define the 2026 fiscal year.
“This budget is designed to take our country from survival to growth,” the President said, describing the spending plan as a deliberate strategy to translate reforms into tangible benefits for citizens.
According to him, the capital drive will focus on transport and energy infrastructure, agriculture, industrial expansion and strategic projects capable of creating large-scale employment. He noted that without sustained capital investment, Nigeria’s ambitions for job creation and competitiveness would remain unattainable.
Key allocations in the 2026 budget include ₦3.56 trillion for infrastructure, ₦3.52 trillion for education and ₦2.48 trillion for health, alongside major investments in agriculture and productivity-enhancing sectors. Tinubu said these sectors are interlinked and critical to raising incomes and improving living standards.
“Infrastructure, education and health are the backbone of productivity,” the President said. “Without them, jobs cannot scale and enterprises cannot thrive.”
Tinubu also highlighted agriculture as a major pillar of the capital programme, with renewed focus on mechanisation, irrigation, storage, processing and agro-value chains. He said the goal is to cut post-harvest losses, improve farmers’ incomes and strengthen food security.
Under the plan, the Bank of Agriculture is expected to support the cultivation of one million hectares of farmland through mechanisation hubs and affordable financing, a move the President said would generate hundreds of thousands of jobs.
The capital expansion comes amid government efforts to improve budget discipline and execution. Tinubu acknowledged past challenges with capital releases but vowed that 2026 would mark a turning point.
“I have directed strict adherence to budget timelines and appropriated details,” he said, adding that only projects that can be completed, measured and felt by Nigerians will be prioritised.
The President said the budget would also leverage private capital through public-private partnerships, reforms in procurement and the Nigeria First Policy, which mandates government agencies to prioritise locally made goods and services.
The 2026 budget projects total expenditure of ₦58.18 trillion, revenue of ₦34.33 trillion and a deficit of ₦23.85 trillion, equivalent to 4.28 per cent of GDP. Tinubu insisted that despite the scale of spending, fiscal sustainability and value-for-money would remain central.
As the budget heads to the National Assembly for scrutiny, the government is betting that its massive capital push will translate into jobs, productivity and a more resilient economy for Nigerians.