The National Assembly has passed the 2026 Appropriation Bill amounting to ₦68.3 trillion.
The budget size was increased by an additional ₦9 trillion following President Tinubu’s request to both the Senate and the House of Representatives, which was swiftly approved by the two chambers.
Presenting the report during plenary, the Chairman of the House Committee on Appropriation, Honorable Abubakar Kabiru Bichi, highlighted the adjustments explaining that the increase was necessary to align with financing plans and safeguard macroeconomic stability.
Total Expenditure: ₦68.3 trillion, representing a significant upward adjustment from the original proposal.
Over ₦26 trillion is earmarked for Capital Expenditure, focusing on infrastructure and development.
While Security & Defense gets Over ₦5.4 trillion to address insurgency and food security.
Debt Servicing is Projected at approximately ₦15.9 trillion. The budget was passed after intensive committee reviews, reflecting increased allocations for national priorities.
In addition, the Senate and House of Representatives approved two separate loan requests from the President
According to the Speaker of the House Tajudeen Abbas, a $5 billion loan from the First Abu Dhabi Bank of the United Arab Emirates to establish an external financing programme and a $1.9 billion loan from Citi Bank of London to support the upgrade of the Apapa and Tin Can Island Ports in Lagos was requested by President Bola Tinubu.
