The Senate has passed a ₦68.323 trillion budget for the 2026 fiscal year, raising it significantly from the ₦58.47 trillion initially proposed by President Bola Tinubu.
The increase of over ₦9 trillion followed a fresh request by the President to cover legacy obligations, especially in the transportation and health sectors, along with additional funding for key areas like the judiciary.
The approval came after lawmakers adopted the joint report on the 2026 Appropriation Bill.
A breakdown of the revised budget shows:
₦4.799 trillion for statutory transfers
₦15.809 trillion for debt servicing
₦15.427 trillion for recurrent (non-debt) expenditure
₦32.287 trillion for capital projects
Out of the additional provisions, ₦5.71 trillion is set aside to settle outstanding capital projects carried over from the 2025 budget, while ₦2 trillion will fund previously omitted projects across the country.
In terms of sectoral allocations, the health sector will receive ₦482.758 billion, the Ministry of Finance Incorporated (MoFI) gets ₦478.600 billion, and the judiciary is allocated ₦268 billion. Of the judiciary’s share, ₦36 billion goes to the Supreme Court, while ₦98.513 million is earmarked for the Court of Appeal.
The Senate also approved ₦8.960 billion for feasibility studies on major road projects, including the Calabar–Maiduguri and Maiduguri–Sokoto corridors.
In a related move, lawmakers extended the implementation of the capital component of the 2025 budget from March 31 to June 30, 2026, to allow more time for the completion of ongoing projects.
