Wednesday, April 1, 2026 - The Senate today March 31, passed the 2026 Appropriation Bill of N68.32 trillion, a significant increase from the N58.47 trillion initially presented by President Tinubu in December 2025.
The upper chamber approved the revised figure following a
formal request by President Tinubu, who had earlier written to the Senate to
notify it of an upward review of the 2026 budget to accommodate additional
fiscal realities and national priorities.
The President themed the budget as the “Budget of
Consolidation, Renewed Resilience and Shared Prosperity” and said it is
designed to consolidate macroeconomic stability, improve the business
environment, promote job creation, and reduce poverty while strengthening human
capital and protecting vulnerable Nigerians.
The approved sum of N68,323,309,818,667 comprises N4.8
trillion for statutory transfers, N15.81 trillion for debt servicing, N15.43
trillion for recurrent expenditure, and N32.29 trillion for capital
expenditure, with the capital component taking the largest share in line with
the government’s infrastructure and development agenda.
The increase in the budget size followed the inclusion of
N7.71 trillion to cover outstanding capital obligations carried over from the
2025 fiscal year, as well as an additional N2 trillion for priority projects
across multiple sectors that were not captured in the original proposal.
Lawmakers noted that many of the 2025 capital projects were
unlikely to be completed before the budget expired, necessitating their
rollover into the 2026 fiscal framework
The Senate also approved several strategic interventions
contained in the President’s request, including N478.6 billion as equity
contribution for presidential legacy light rail projects in Lagos, Kano,
Kaduna, and Ogun states, as well as feasibility studies for Enugu and Maiduguri
urban rail systems. It further approved N8.96 billion for feasibility studies
for the Calabar–Maiduguri corridor and the Maiduguri–Sokoto superhighway.
In the health sector, N482.76 billion was provided for
priority interventions tied to existing bilateral commitments. At the same
time, the judiciary received significant allocations, including N98.5 billion
for the Court of Appeal, N36.7 billion for the Supreme Court, and N268.54
billion to strengthen judicial capacity and support the anticipated increase in
the number of judges ahead of the 2027 general elections.
0 Comments