The National Assembly has approved ₦68.3 trillion Appropriation Bill for 2026 fiscal year
The Senate and House of Representatives on Tuesday approved a N68.3 trillion Appropriation Bill for the 2026 fiscal year, following the consideration of the report submitted by their respective Committees on Appropriations.
The approval came during plenary after the report was reviewed in the Committee of Supply. It was presented by the Chairman of the Senate Committee on Appropriations, Senator Solomon Olamilekan (APC, Ogun West), alongside his House counterpart, Rep. Abubakar Bichi (APC, Kano).
Recall that President Bola Tinubu had earlier, on December 19, 2025, presented the 2026 Appropriation Bill before a joint session of the National Assembly. He noted that the proposal, themed “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” underscores the executive’s commitment to maintaining macroeconomic stability.
While presenting the committee’s findings, Rep. Bichi disclosed that lawmakers recommended a total expenditure of ₦68.3 trillion, broken down as follows: “₦4.7 trillion for statutory transfers, ₦15.8 trillion for debt servicing, ₦15 trillion for recurrent (non-debt) expenditure, ₦32 trillion for capital expenditure through the Development Fund.”
Bichi explained that the increase from the initial ₦58.47 trillion proposal to ₦68.3 trillion was driven largely by the need to address outstanding obligations and fund strategic sectors.
According to him, “the proposed adjustments were intended to regularise outstanding legacy capital commitments thereby ensuring that the 2026 fiscal programme is not unduly burdened by unresolved obligations from earlier years.”
He highlighted the urgency of addressing bureaucratic delays that affected fund releases in the 2025 fiscal year, stressing that such issues must be resolved to achieve the 2026 objective of “From Budget to Impact.”
Bichi also emphasized the need for stronger collaboration between the legislature and the executive to ensure effective implementation of the budget.
In addition, he reiterated the committee’s recommendation to extend the lifespan of the 2025 Appropriation Act to June 30, 2026.
According to the lawmaker, the capital allocation in the 2026 budget reflects the Tinubu administration’s strong emphasis on infrastructure development, while the sizeable provision for debt servicing points to continued fiscal pressures.
He further noted that the approved figures incorporate adjustments requested by President Tinubu, including the addition of ₦5.71 trillion in legacy capital obligations carried over from the 2025 fiscal cycle, as well as ₦2 trillion earmarked for priority projects across key sectors.
The president’s request for these adjustments had earlier been read during Tuesday’s plenary session.
