Senate Approves N68.3trn Budget for 2026 with Increases

On Tuesday, the Nigerian Senate passed the 2026 Appropriations Bill, approving a revised budget of N68.323 trillion, which includes an additional N9.09 trillion. This increase aims to address legacy obligations, fund critical infrastructure, strengthen the judiciary, boost healthcare interventions, and support preparations for the 2027 general elections.

Solomon Adeola, Chairman of the Senate Committee on Appropriations, presented the report detailing the adjustments necessary to align the budget with current economic realities. The original budget proposed by President Bola Tinubu was N58.18 trillion.

The revised budget allocates N4.799 trillion for statutory transfers, N15.809 trillion for debt servicing, and N15.427 trillion for recurrent non-debt expenditures, with a significant N32.287 trillion earmarked for capital expenditures. The adjustments also include provisions for various infrastructure projects and healthcare initiatives, reflecting a strong commitment to economic development and stability.