The Nigerian Senate has passed the 2026 budget after adding the N9.3 trillion latest request by President Bola Tinubu, bringing the total figure to N68.323 trillion.
Apart from approving the president’s request, the Senate also increased the total budget by N623 billion.
The Legislature increased the total budget from N67.7 trillion, as requested by the president, to N68.323 trillion.
The budget was approved after most senators endorsed it through voice votes.
The Senate President, Senator Godswill Akpabio, subsequently announced the budget’s passage.
The lawmakers supported the passage of the budget after they reviewed a report presented by Senator Solomon Adeola Olamilekan, Chairman of the Senate Committee on Appropriations.
Senator Olamilekan, while presenting the report, recommended the allocation of N4.799 trillion 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 approval came a few hours after Senator Akpabio read a letter from President Tinubu requesting an upward revision of the budget by N9.3 trillion, raising it from the initial N58.47 trillion to N67.7 trillion.
In his letter to the lawmakers, President Tinubu said the proposed increase was aimed primarily at regularising outstanding legacy capital projects carried over from previous budgets to ensure their completion.
He also noted that the additional spending would support key transport projects, in line with the administration’s continuity agenda.
The President noted that the adjustment is further intended to preserve macro-fiscal stability and ease pressure on the domestic financial market.
During the presentation of the budget, Senator Olamilekan said the adjustment was necessary to regularise outstanding commitments from previous fiscal years, align the budget with current economic realities and maintain macroeconomic stability.
It would be recalled that President Tinubu had initially presented a N58.18 trillion budget proposal to the National Assembly on December 19, 2025.
Tagged the “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” the proposal prioritised economic growth, with major allocations to security and capital projects.
However, the revised budget, now passed by both chambers of the National Assembly, reflects a significant increase in overall spending.
Speaking after the passage of the budget, the President of the Nigerian Senate, Senator Akpabio, thanked his colleagues, especially the Committee on Appropriations in both chambers, for working tirelessly to ensure the passage of the 2026 Budget.
Also speaking with journalists after the Plenary, the Chairman of the Senate Committee on Appropriations, Senator Olamilekan, appealed to all Nigerians to continue to support President Bola Tinubu’s economic reforms, which he said are yielding positive results.