Presidency Reveals Reason Behind ₦58 Trillion Budget Increase by Tinubu

The Nigerian Presidency revealed that the increase in the proposed 2026 federal government budget to ₦58.18 trillion by Bola Tinubu was to cover the financial burden created by the recent approval of massive recruitment in military, police, and security agencies. The original budget figure was ₦54.46 trillion, but the need to expand spending to reflect additional personnel costs necessitated the upward review.

The Federal Executive Council (FEC) meeting, where the new budget figure was announced, lasted less than two hours, indicating a swift decision-making process. Despite the budget process running behind schedule, Tinubu proceeded to present the budget to the National Assembly promptly, emphasizing the importance of early passage.