Nigeria’s Senate has passed a ₦68 trillion budget for the 2026 fiscal year, marking a significant increase from the initial proposal submitted by President Bola Ahmed Tinubu.
The approved figure represents a ₦9 trillion increase from the original ₦58 trillion estimate presented to the National Assembly.
The budget outlines key spending areas, including:
- ₦4.79 trillion for statutory transfers
- ₦15.8 trillion for debt servicing
- ₦15.4 trillion for recurrent (non-debt) expenditure
- ₦32.28 trillion allocated to capital and development projects
The passage of the budget reflects the legislature’s constitutional role in reviewing and adjusting government spending plans before approval. The increase suggests lawmakers made upward adjustments to accommodate additional priorities and expenditures for the year.
The 2026 appropriation is expected to fund government operations, infrastructure development, and economic programmes, while also addressing Nigeria’s ongoing fiscal pressures, including high debt servicing costs.
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