Abuja — The Nigerian Senate has approved a ₦68.323 trillion budget for the 2026 fiscal year, marking a significant increase from the ₦58.47 trillion initially proposed by President Bola Ahmed Tinubu.
The upward revision of over ₦9.09 trillion followed a fresh request by the President to accommodate legacy commitments, particularly in the transportation and health sectors, as well as additional provisions, including funding for the judiciary.
The approval came after the Senate adopted the joint report of the National Assembly on the 2026 Appropriation Bill during plenary.
A breakdown of the revised budget shows that ₦4.799 trillion is allocated for statutory transfers, ₦15.809 trillion for debt servicing, ₦15.427 trillion for recurrent (non-debt) expenditure, and ₦32.287 trillion for capital projects.
Further analysis indicates that ₦5.71 trillion from the additional provisions is earmarked for the regularisation of outstanding capital obligations carried over from the 2025 budget, while ₦2 trillion has been set aside for previously omitted projects across the country.
The revised budget reflects the government’s effort to address inherited financial commitments while sustaining investment in critical sectors of the economy.
By Chief Edet Isong