Nigerian Senate Approves ₦68 Trillion 2026 Budget

On Tuesday, the Nigerian Senate, led by Senate President Godswill Akpabio, passed a ₦68 trillion budget for the year 2026. This budget reflects a ₦9 trillion increase from the initially proposed ₦59 trillion.

It covers the period ending December 31, 2026, with allocations including ₦4.8 trillion for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent non-debt expenditure, and ₦32.3 trillion earmarked for capital expenditure. The budget aims to support the development fund and implement plans that are expected to follow the recalibrated proposal by President Bola Tinubu.

The adjustment was made to regularize outstanding legacy capital projects inherited from previous administrations and to ensure the completion of ongoing projects captured in earlier budgets. The increase is part of the government's efforts to sustain economic reform and preserve macro-fiscal stability while reducing pressure on domestic financial markets.