NASS Approves N68.3 Trillion Budget for 2026 Fiscal Year

On Tuesday, the National Assembly passed the N68.3 trillion budget for the 2026 fiscal year during its third reading, which is N9 trillion higher than the N58.472 trillion proposed by President Bola Tinubu in December 2025. The budget's approval followed a harmonized report submitted by the Appropriations Committee, chaired by Senator Olamilekan Adeola.

Key adjustments were made to address outstanding unfunded capital obligations amounting to N5.71 trillion from the 2025 appropriations. The budget prioritizes various sectors, including a significant allocation for the health sector and judicial support, with provisions of N98.5 billion for the Court of Appeal and N36.7 billion for the Supreme Court.

The budget also includes a framework for the President's legacy projects, such as light rail initiatives across multiple states. Senator Adeola detailed the budget's breakdown, highlighting statutory transfers, recurrent expenditure, capital expenditure, and debt servicing.

The passage aims to facilitate effective implementation and address bureaucratic bottlenecks in fund release.