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The Nigerian Senate has passed the N68.3 trillion Appropriation Bill for the 2026 fiscal year.
The passage of the 2026 budget follows President Bola Tinubu’s request to add N9.3 trillion to the initial N58 trillion proposed sum.
Senate President Godswill Akpabio had read a letter from Tinubu requesting an upward revision of the budget by N9.3 trillion earlier in the day. According to Tinubu, the increase in the proposed budget was intended to complete capital projects carried over from previous budgets.
The President further noted that the review will enable his administration to embark on major transport projects and to preserve macro-fiscal stability and ease pressure on the domestic financial market.
Premium Times reported that the lawmakers did not question the president’s request for additional funds or scrutinise his request before passing the bill on Tuesday.
The budget breakdown includes N4,799,628,911,806 for statutory transfers, N15,809,361,631,657 for debt service, and N15,427,257,802,407 for recurrent (non-debt) expenditure, while the sum of N32,287,061,472,797 is for contribution to the development fund for capital expenditure for the year ending on December 31, 2026.
