NASS Approves N68.323 Trillion Budget for 2026

The Nigerian National Assembly (NASS) has approved a budget of N68.323 trillion for the year 2026, marking an increase of N9 trillion from the initial proposal of N58.47 trillion presented by President Bola Tinubu. This adjustment was made to cover unfunded capital obligations and prioritize critical projects across various sectors, particularly infrastructure.

The budget breakdown includes statutory transfers of N4.8 trillion, debt servicing of N15.8 trillion, recurrent non-debt expenditure of N15.4 trillion, and capital expenditure of N32.3 trillion. The passage followed a report from the Senate Committee on Appropriations, chaired by Senator Solomon Adeola, and the House Committee on Appropriations, chaired by Abubakar Kabir Bichi.

Key projects funded include the Lagos-Kano light rail project and health sector interventions. The budget is expected to support Nigeria's macroeconomic stability and job-rich growth.

Additionally, the Senate approved an allocation of N183.71 billion for the Revenue Mobilization, Allocation and Fiscal Commission (RMAFC).