Budgets are never just spreadsheets. They are political and economic statements, quietly revealing what a government worries about most, what it is trying to protect, and where it is willing to take risks. Nigeria’s 2026 budget tells the story of a state still preoccupied with staying afloat. Insecurity, debt pressure, and institutional stress dominate the thinking, even as policymakers make cautious attempts at adjustment.
What stands out immediately is how concentrated spending is. Defence, Works, Finance, Budget and Economic Planning, Edu
