Nigerian Senate Approves N68 Trillion 2026 Budget

The Nigerian Senate has passed a budget of N68 trillion for the 2026 fiscal year, which represents an increase of N9 trillion from the initially proposed budget of N59 trillion. The budget allocation includes N4.8 trillion for statutory transfers, N15.8 trillion for debt servicing, and N15.4 trillion for recurrent non-debt expenditure.

Additionally, N32.3 trillion is earmarked for capital expenditure, which is intended to contribute to the development fund. This budget will cover the period ending on December 31, 2026.

Further details regarding sector allocations and implementation plans are expected to follow this approval.