In 2025, the Federal Government revised its budget to ₦48.316 trillion, while the 36 states budgeted ₦28.285 trillion, and the FCT had ₦1.81 trillion. For 2026, ₦49.39 trillion (54.10%) is allocated to capital projects, and ₦43.454 trillion (45.90%) to recurrent expenditures. Among the 34 states with cumulative budgets of ₦34.509 trillion, all except Ekiti and the Federal Government allocated more funds to capital expenditure. Ekiti’s ₦415.572 billion budget includes ₦193.699 billion for capital projects and ₦221.871 billion for recurrent expenditures. The Federal Government’s ₦58.47 trillion proposal consists of ₦32.37 trillion for recurrent expenditure and ₦26.08 trillion for capital expenditure. Recurrent spending includes ₦15.52 trillion for debt servicing and ₦15.25 trillion for non-debt expenses. Capital expenditure covers ₦5.41 trillion for Defence and Security, ₦3.56 trillion for Infrastructure, ₦3.52 trillion for Education, and ₦2.48 trillion for Health.
Lagos leads the states with a ₦4.237 trillion budget, surpassing the combined budgets of the six North-East states (₦3.248 trillion) and the other five South-West states (₦4.228 trillion). Other trillion-naira budgets include Delta (₦1.729 trillion), Ogun (₦1.669 trillion), Enugu (₦1.62 trillion), Imo (₦1.439 trillion), Akwa Ibom (₦1.39 trillion), Kano (₦1.368 trillion), Niger (₦1.072 trillion), Abia (₦1.016 trillion), and Bayelsa (₦1.01 trillion). States with lower budgets include Ekiti (₦415.572 billion), Yobe (₦515.1 billion), Ondo (₦524.41 billion), Nasarawa (₦545.182 billion), Adamawa (₦583.32 billion), Benue (₦605.51 billion), Gombe (₦617.953 billion), Kebbi (₦642.9 billion), Kwara (₦644.004 billion), and Taraba (₦653 billion). Moderate spenders include Kaduna (₦985.9 billion), Cross River (₦961.624 billion), Edo (₦939.85 billion), Plateau (₦914.863 billion), and Jigawa (₦901.84 billion).
Among the zones, the South-West tops with ₦8.465 trillion, while the North-East (excluding Borno) has the lowest at ₦3.248 trillion. Other zones are North-West (₦6.417 trillion), South-South without Rivers (₦6.031 trillion), South-East (₦5.720 trillion), and North-Central (₦4.620 trillion). The South-East leads in capital project allocation, dedicating ₦4.658 trillion (81.43%) of its budget to capital expenditure. The North-West follows with ₦4.802 trillion (74.83%), while other zones allocate South-West (₦4.642 trillion, 54.84%), South-South (₦4.164 trillion, 68.97%), North-Central (₦2.90 trillion, 62.77%), and North-East (₦2.14 trillion, 66.13%).
Governors have pledged to implement budgets addressing socio-economic challenges, reflected in themes like Lagos’ “Budget of Shared Prosperity” and Delta’s “Budget of Accelerating MORE Agenda.” The Federal Government’s “Budget of Consolidation, Renewed Resilience and Shared Prosperity” aims to stabilize and improve living standards. However, with 139 million Nigerians living below the poverty line and past challenges in budget implementation, the impact of these pledges in 2026 remains to be seen.
The 2026 budgets reflect ambitious plans to address economic challenges, but concerns linger over implementation. Many states and the Federal Government have emphasized infrastructure, education, and health in their capital allocations, signaling a focus on long-term development. However, historical issues like delayed releases, underfunding, and misallocation raise doubts about whether these proposals will translate into tangible improvements.
States like Lagos, Delta, and Ogun continue to prioritize large-scale projects, while others, such as Ekiti and Yobe, face tighter fiscal constraints. The disparity in spending power between high-budget and low-budget states highlights regional economic imbalances. For instance, Lagos’s budget alone exceeds the combined budgets of the entire North-East zone, reinforcing its dominant economic position.
At the federal level, President Tinubu’s administration has framed the ₦58.47 trillion budget as a tool for economic stabilization, job creation, and poverty reduction. Key allocations include ₦5.41 trillion for defense and security, reflecting ongoing security challenges, and ₦3.56 trillion for infrastructure—a critical area for Nigeria’s growth. However, debt servicing remains a heavy burden at ₦15.52 trillion, consuming a significant portion of recurrent expenditure.
The themes of the budgets—such as "Budget of Economic Transformation" (Osun) and "Budget of Inclusive Growth" (Cross River)—suggest a rhetorical commitment to development. Yet, past experiences show that lofty titles do not always guarantee effective execution. With inflation, unemployment, and weak revenue generation still pressing issues, Nigerians remain skeptical about whether these budgets will truly alleviate hardship.
As 2026 approaches, the key question is whether governments at all levels can ensure disciplined spending, curb wastage, and deliver on their promises. If implemented efficiently, the ₦92.979 trillion budget could mark a turning point. But if past trends persist, it may end up as another missed opportunity to uplift millions struggling in poverty.
