The Senate has approved a ₦68.323 trillion budget for the 2026 fiscal year, raising the figure from President Bola Tinubu’s original proposal of ₦58.47 trillion.
This increase of over ₦9 trillion comes in response to a new request from the President to accommodate legacy obligations—particularly in the transportation and health sectors—as well as additional funding needs, including support for the judiciary.
The approval followed the National Assembly’s adoption of a joint report on the 2026 Appropriation Bill.
The revised budget allocates ₦4.799 trillion to statutory transfers, ₦15.809 trillion to debt servicing, ₦15.427 trillion to recurrent (non-debt) expenditure, and ₦32.287 trillion to capital projects.
Of the additional provisions, ₦5.71 trillion is set aside to regularise outstanding capital obligations carried over from the 2025 budget, while ₦2 trillion is allocated to previously omitted nationwide projects.
Sectoral allocations include ₦482.758 billion for the health sector, ₦478.600 billion for the Ministry of Finance Incorporated (MoFI), and ₦268 billion for the judiciary—of which ₦36 billion is for the Supreme Court and ₦98.513 million for the Court of Appeal.
The Senate also approved ₦8.960 billion for feasibility studies on major road projects, including the Calabar–Maiduguri and Maiduguri–Sokoto corridors.
Additionally, lawmakers extended the capital component of the 2025 budget, moving the deadline for its implementation from March 31 to June 30, 2026, to facilitate the completion of ongoing projects.
