The Nigerian Senate on Tuesday approved the 2026 national budget, raising the total estimate to N68.323 trillion following the adoption of an upward review request by President Bola Tinubu.
The approval came after lawmakers added N9.3 trillion to the initial proposal submitted by the president, increasing it from N58.47 trillion to N67.7 trillion, before further adjusting it by an additional N623 billion.
The upper chamber passed the budget after considering a report presented by the Chairman of the Senate Committee on Appropriations, Adeola Olamilekan.
Breakdown of the approved budget shows N4.799 trillion allocated for statutory transfers, N15.809 trillion for debt servicing, N16.427 trillion for recurrent (non-debt) expenditure, and N32.287 trillion for capital expenditure.
The budget was endorsed by the majority of senators through a voice vote, after which Senate President, Godswill Akpabio, announced its passage.
Earlier in the day, Mr Akpabio had read a letter from President Tinubu requesting an upward revision of the budget by N9.3 trillion. In the letter, the president explained that the increase was aimed at regularising outstanding legacy capital projects to ensure their completion.
He also stated that the additional funds would support key transport projects under the administration’s continuity agenda, while helping to maintain macro-fiscal stability and ease pressure on the domestic financial market.
However, during deliberations, lawmakers did not raise questions regarding the president’s request for additional funding.
