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President Tinubu to borrow 40% of the money needed to run Nigeria in 2026

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By The Neighbourhood Economic Team

On Friday, December 19, 2025, President Bola Tinubu presented a N58.18 trillion budget for the 2026 fiscal year. To put it simply: the government is planning a “hard reset.”

Think of this budget as a homeowner who is deeply in debt but decides to take out one last big loan to finally fix the roof, the gate, and the generator, hoping that these repairs will finally help the family earn more money.

Here is a simplified, analytical look at the “Budget of Consolidation and Resilience.”

1. The big numbers (The family wallet)
The government expects to earn N34.33 trillion but plans to spend N58.18 trillion.

The gap (deficit): There is a N23.85 trillion hole.

The Solution: The government plans to fill this hole by borrowing. In fact, over 40% of the money needed to run Nigeria in 2026 will be borrowed money.

2. Where is the money going? (sector isolation)

If you had N100 to spend based on this budget, here is how you would be splitting it:

Sector allocation (Naira) % of Budget – What it means for you

Debt Servicing N15.52 Trillion 26.67% Nearly N27 of every N100 goes to paying back interest on old loans.

Security N5.41 trillion(9.30%) The “big stick” approach. More money for tech and troops to fight banditry.

Infrastructure N3.56 trillion(6.12%) – Road and rail projects. The goal is to make moving goods cheaper.

Education N3.52 trillion(6.05%) – Heavily focused on the Student Loan Fund (NELFUND) and repairs.

Health N2.48 trillion(4.26%) – Focusing on primary healthcare and keeping doctors from leaving.

3. The “relatable” analysis: 3 things to watch

A. The “terrorist” tag and your safety

The President made a bold move by officially classifying all “non-state armed groups” as terrorists. This isn’t just a name change; it allows the military to use N5.41 trillion to go “all out” without the legal red tape usually involved in policing. If successful, this could finally lower the cost of food by making farms safe again.

B. The end of “forever projects”

For years, Nigeria had projects that appeared in the budget for 10 years and never got completed. Tinubu has ordered a March 2026 “cutoff.” If a project isn’t compleed or properly accounted for by then, the tap gets turned off. This is a push for discipline over sentiment.

C. The exchange rate gamble

The budget is built on an exchange rate of N1,400 to $1.

The risk: If the Naira falls significantly further than this (e.g., to N1,700), the budget “breaks.” The N58 trillion won’t buy as much as planned, and the debt service costs will skyrocket because much of our debt is in Dollars.

4. Final verdict

The 2026 budget is ambitious but fragile. It relies on the hope that security will improve enough for us to pump 1.84 million barrels of oil per day. If the oil flows and the borrowing is managed, the “consolidation” might work. If not, the debt burden could become a “resilience” test that the average Nigerian’s pocket might struggle to pass.

Politics

2027: More Than 50 Lawmakers Lose APC Reps Tickets in Major Primary Election

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No fewer than 50 members of the 10th House of Representatives are unlikely to be part of the 11th Assembly after losing out in the All Progressive Congress (APC) primaries held on Saturday.

This marks one of the largest turnovers of sitting federal lawmakers since 2015 and signals intensifying internal competition within the ruling party eight months to the 2027 general elections.

While House Speaker Tajudeen Abbas (Kano) and Deputy Speaker Benjamin Kalu (Abia) successfully defended their tickets, several ranking and long-serving lawmakers were defeated, exposing strong anti-incumbent sentiment and the decisive role of state governors in candidate selection.

Major casualties

One of the biggest upsets was the defeat of House Majority Leader Julius Ihonvbere in Edo State’s Owan Federal Constituency. He polled 1,005 votes out of 7,587 cast, finishing third behind Andrew Ijegbia, who scored 3,695 votes. Abdul Oroh placed second with 1,740 votes.

In Delta State, veteran lawmaker Nicholas Mutu, who has represented Bomadi/Patani Federal Constituency since 1999, lost his re-election bid. Ngozi Okolie also lost the Aniocha/Oshimili ticket to former House Minority Leader Ndudi Elumelu.

 

Cross River State recorded one of the highest casualty rates, with five of eight incumbents failing to secure re-nomination.

They include three-term member Mike Etaba (Obubra/Etung), Godwin Offiono (Ogoja/Yala), Emil Inyang (Akamkpa/Biase), and Bassey Akiba (Odukpani/Calabar Municipality).

Only Peter Akpanke, Joseph Bassey, and Victor Abang won return tickets.

In Plateau State, conflicting results in Pankshin/Kanke/Kanam Federal Constituency triggered early confusion. One returning officer declared challenger John Tongshinen winner with 29,968 votes against incumbent Yusuf Gagdi’s 5,849.

The APC Plateau State primaries committee, chaired by Stella Okotete, later dismissed that declaration as unauthorised and affirmed Mr Gagdi as the authentic winner with 29,207 votes.

At a press briefing, Mrs Okotete stated that Nandom Kura was the recognised returning officer. “The returning officer approved by my committee that has gone to do fake declaration is null and void,” she said.

Other significant losses occurred in Ogun State (at least five incumbents, including Deputy Chief Whip Ibrahim Isiaka and Tunji Akinosi) and Ekiti State (three sitting members).

 

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PDP to screen Goodluck Jonathan on Tuesday as its sole Presidential aspirant For 2027 race

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The Peoples Democratic Party (PDP), led by Tanimu Turaki, SAN, has scheduled to screen former president Goodluck Jonathan tomorrow, Tuesday, aMay 19, as the lone presidential candidate of party.

According to a statement from the PDP faction backed by the Oyo State Governor, Seyi Makinde, Former Vice-President Namadi Sambo, former governor of Plateau State, Jona Jang and a former Minister of Foreign Affairs, Tom Ikimi have been listed among a committee of 14 members to screen Jonathan described as a lone candidate by the party.

Other members of the committee were Chief Olabode George, Babangida Aliyu, Maryam ciroma, Zainab Maina, Josephine Anenin, Dr. Abdul Bulama, Dr. Esther Uduehi, Edo State PDP chairman, Tony Aziegbemi, Dr. Sunday Solarium and Chief Anicho Okoro, who would serve as administrative secretary of the committee.

Last week, the national Publicity Secretary of the faction, Ini Ememobong, disclosed that former president Jonathan has successfully registered as a member of the party in the fresh digital registration exercise directed by INEC.

The PDP faction also announced that it was set to screen 748 house of representatives aspirants, 198 senatorial aspirants, and 112 governorship aspirants.

The screening committee would screen 2122 states houses of assembly aspirants. The exercise will commence tomorrow, Tuesday in different states.

According to the statement, the screening exercise would take place nationwide on Tuesday, May 19, 2026, at 10:00 a.m.

The statement said the Interim National Working Committee (iNWC) has also released the names of members to serve on the Screening Committees and Screening Appeal Panels.

It added that the publication of the screening details “is in accordance with the party’s guidelines and timetable for the conduct of the 2027 general elections.”

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Oshiomhole wins Edo APC senatorial primaries unopposed

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A former governor and incumbent Senator, Adams Oshiomhole, along with his counterpart Senator Joe Ikpea, sailed through the All Progressives Congress senatorial primary in Edo unopposed, and securing their tickets without a single vote cast against them.

Also Omoregie Ogbeide-Ihama emerged the winner in the APC primary for the Edo South senatorial district.

Ogbeide-Ihama won in the seven local government areas of Edo South in the results announced by the Chairman of APC National Assembly Primary Election, Muhammed Ajana at the Urokpota Hall, Benin.

He polled 27,154 votes while his opponents, Senator Neda Imasuen, got 13,580, and Pastor Osagie Ize-Iyamu got 6785.

The elections were hitch-free in Edo North and Edo Central, where there was no contest against the incumbents, Senators Oshiomhole of Edo North and Ikpea of Edo Central, respectively.

Ajana at the Urokpota Hall said the collation arose from votes cast in the seven local government areas made up of 77 wards where elections were conducted by members of the committee.

He said, “There are seven local governments that make up the Edo South Senatorial District. We have heard from the Returning officers from the seven local government areas. From the collation, the cumulative result we have for Edo South Senatorial District is this; Ogbeide-Ihama with 27,154 votes, Imasuen with 13,580 votes and Ize-Iyamu with 6, 785.

“This is the total reflection of what has transpired from the ward level to the local government and the Edo South senatorial district collation centre. With this we await further directives from the National Secretariat, we have done our best by collating the results which is our mandate, to collate the results and send them to the National Secretariat.”

However, it was gathered that Ize-Iyamu emerged as the APC candidate for Edo South Senatorial race. He claimed to have clinched the party’s ticket after defeating Ogbeide-Ihama and Imasuen.

It was claimed that the Chief Returning Officer, Abubakar Muhammad Kabiru, officially declared Ize-Iyamu the winner after securing the highest number of votes cast.

On his part, the senator representing the district condemned the exercise describing it as a sham allegedly designed to favour a preferred aspirant.

Imasuen spoke while reacting to events at his polling unit in Umagbae North Ward 5, Urhokuosa where he said he was denied the opportunity to vote following what he described as a chaotic and manipulated process.

The lawmaker accused leaders of the party of openly adopting a preferred candidate ahead of the exercise and intimidating members into supporting that aspirant.

He said, “There is nothing satisfactory about this sham of election they did today and it is very unfortunate because as a loyal party member, I expected something better than this.”

He said the warning signs emerged days before the primary when some ward chairmen allegedly informed him that they had been directed not to receive him during consultations.

Imasuen claimed that some ward leaders openly told him the party had already adopted a preferred aspirant, identified as Hon. Omoregie Ogbeide-Ihama, making further consultations unnecessary.

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