President Bola Tinubu on Friday presented the N58.18 trillion 2026 Appropriation Bill to the National Assembly, with debt servicing projected to account for N15.52 trillion, representing about 26.7% of total expenditure.

The budget, titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” also includes a proposed capital expenditure of ₦26.08 trillion and recurrent (non-debt) spending of ₦15 trillion. The allocation for debt servicing remains one of the largest single items, exceeding spending on several key sectors.

The Peoples Democratic Party (PDP) criticised the budget, describing it as a plan that consolidates economic hardship, deepens poverty, and reflects poor economic management. In a statement signed by National Publicity Secretary Comrade Ini Ememobong, the party argued that Nigerians continue to experience worsening living conditions despite reported GDP growth.

“We see it rather as a budget of consolidated renewed sufferings, because what Nigerians have witnessed since the birth of this administration is nothing but unmitigated hardship on the people, while the governing class relishes in affluence,” the PDP said.

President Tinubu cited a 3.98% GDP growth rate as evidence of economic stabilisation. However, the PDP countered that growth without inclusiveness has failed to lift millions out of poverty, noting that more than 30.9% of Nigerians live below the international extreme poverty line, according to the 2025 World Bank Poverty and Equity Brief.

The opposition party also questioned the sources of the growth, comparing the current 3.98% rate to the 6.87% recorded in 2013 under a PDP-led administration, which it said was largely driven by non-oil sectors such as agriculture and trade.

On security, the PDP acknowledged allocations in the 2026 budget but stressed that funding alone will not address Nigeria’s security challenges. The party called for transparent and effective use of security funds to provide modern equipment, adequate ammunition, improved intelligence, and better welfare for security personnel, noting that criminal non-state actors often possess superior weapons.

The PDP further criticised what it described as the President’s admission that execution of the 2024 capital budget was extended into December 2025 while the 2025 budget remains in force. The party warned that operating multiple budgets concurrently undermines fiscal discipline, transparency, and accountability.

“Financial accountability and transparency are critical to public trust-building and effective public administration,” the PDP stated.

The 2026 budget will now undergo legislative scrutiny in the coming weeks, as lawmakers debate its provisions amid rising concerns over inflation, unemployment, poverty, and insecurity across the country.