The Nigerian Senate has approved a N68 trillion budget for the 2026 fiscal year, increasing the initial proposal of N59 trillion by N9 trillion.
Senate President Godswill Akpabio announced the passage of the budget during plenary after lawmakers considered and adopted the report of the Senate Committee on Appropriations.
The report was presented by the committee’s chairman, Adeola Olamilekan, who outlined the key allocations in the spending plan.
According to him, N4.799 trillion was earmarked for statutory transfers, N15.809 trillion for debt servicing, N16.427 trillion for recurrent (non-debt) expenditure, and N32.287 trillion for capital expenditure.
Following the review, the Senate approved the recommendations and passed the budget.
The approved budget will run for the 2026 fiscal year, ending December 31, 2026.
More details to follow…
Senate approves N68trn 2026 budget
