Senate Approves N68.3 Trillion 2026 Budget with Major Increases for Infrastructure
The Senate has officially passed the 2026 Appropriation Bill, approving a total sum of N68.32 trillion. This represents a substantial increase from the initial N58.47 trillion budget presented by President Bola Tinubu in December 2025. The upper chamber gave its approval on March 31, 2026, following a formal request from the President to revise the budget upward to address additional fiscal realities and national priorities.
Budget Breakdown and Key Allocations
The approved budget of N68,323,309,818,667 is structured into several key components. Statutory transfers account for N4.8 trillion, while debt servicing is allocated N15.81 trillion. Recurrent expenditure receives N15.43 trillion, and capital expenditure takes the largest share at N32.29 trillion. This emphasis on capital spending aligns with the government's focus on infrastructure and development initiatives.
President Tinubu has themed the budget as the "Budget of Consolidation, Renewed Resilience and Shared Prosperity." According to the President, this budget is designed to consolidate macroeconomic stability, improve the business environment, promote job creation, and reduce poverty. It also aims to strengthen human capital and protect vulnerable Nigerians across the country.
Reasons for the Budget Increase
The increase in the budget size is primarily due to two major factors. First, an additional N7.71 trillion was included to cover outstanding capital obligations carried over from the 2025 fiscal year. Lawmakers noted that many of the 2025 capital projects were unlikely to be completed before the budget expired, necessitating their rollover into the 2026 fiscal framework.
Second, an extra N2 trillion was allocated for priority projects across multiple sectors that were not captured in the original proposal. This adjustment ensures that critical national initiatives receive adequate funding to move forward without delay.
Strategic Interventions and Sectoral Allocations
The Senate also approved several strategic interventions as part of the President's request. These include:
- N478.6 billion as equity contribution for presidential legacy light rail projects in Lagos, Kano, Kaduna, and Ogun states.
- Feasibility studies for Enugu and Maiduguri urban rail systems.
- N8.96 billion for feasibility studies for the Calabar–Maiduguri corridor and the Maiduguri–Sokoto superhighway.
In the health sector, N482.76 billion was provided for priority interventions tied to existing bilateral commitments. The judiciary received significant allocations to strengthen its capacity ahead of the 2027 general elections, including:
- N98.5 billion for the Court of Appeal.
- N36.7 billion for the Supreme Court.
- N268.54 billion to support judicial capacity and the anticipated increase in the number of judges.
This comprehensive budget approval underscores the government's commitment to addressing both immediate fiscal needs and long-term development goals, with a clear focus on infrastructure, health, and judicial reforms as Nigeria prepares for future challenges and opportunities.
