The federal government aims to generate over N189 billion in 2026 through the sale of national assets and the privatisation of selected public holdings, positioning asset disposals as a key component of Nigeria’s largest budget in nominal terms.
According to the 2026 Appropriation Bill, the projected N189.16 billion forms part of a broader N25.27 trillion financing plan designed to bridge the gap between estimated expenditures of N58.47 trillion and total projected revenues of N33.20 trillion.
The plan also included N23.04 trillion in new debt and around N2.05 trillion in multilateral and bilateral project-tied loans, highlighting a growing reliance on non-oil revenue sources.
While specific assets slated for sale were not listed in the bill, the Bureau of Public Enterprises (BPE) had previously confirmed that 91 federal entities would be privatised.
These include 16 in oil and gas, 12 in agriculture, 20 in aviation, and 28 in other sectors such as mining, steel, transport, and eco-tourism, as well as two agencies under the Federal Capital Territory Administration.
Out of these, equity in 35 firms would be fully privatised, while 57 would undergo partial privatisation.
The 2026 budget allocated N23.21 trillion to capital expenditure, accounting for nearly 40 percent of total spending, while debt servicing remains a dominant line item at N15.91 trillion, consuming more than a quarter of the budget.
Recurrent non-debt expenditure is pegged at N15.25 trillion, with statutory transfers of N4.10 trillion.
Government-owned enterprises (GOEs) are expected to generate nearly N9.40 trillion in gross revenue, but only N4.98 trillion is projected to accrue to the federation after retained operating surpluses.
Analysts noted that while asset sales contribute less than 1 percent of total spending, they are a strategic source of revenue aimed at reducing fiscal pressures and gradually lowering dependency on debt.
Key capital allocations include N3.06 trillion for the Ministry of Works, N1.13 trillion for Agriculture and Food Security, N464.4 billion for Defence, N286.9 billion for the Office of the National Security Adviser, and N113.5 billion for the Secretary to the Government of the Federation. Other allocations include Foreign Affairs (N56.1 billion), Police Affairs (N60.9 billion), and Art, Culture and Creative Economy (N28.2 billion).
The budget reflects the government’s intention to monetise public holdings, attract private investment, and ensure that critical infrastructure and social development programs continue despite fiscal constraints.
