Senate approves N68.3trn 2026 Appropriation Bill

Extends 2025 budget implementation to June 30

The Senate has approved the N68.3 trillion Appropriation Bill for the 2026 fiscal year.

The approval followed the presentation and the consideration of the report of the Senate Committee on Appropriations in the Committee of Supplies during Tuesday’s plenary.

The report was presented by the Chairman of the committee, Sen. Olamilekan Adeola (SenateAPC-Ogun).

Adeola recalled that President Bola Tinubu had, on Dec. 19, 2025, laid before the joint sitting of the National Assembly the 2026 Appropriations Bill.

“The 2026 Budget, themed Budget of Consolidation, Renewed Resilience and Shared Prosperity, reflects the executive’s determination to lock in macroeconomic stability.

“The committee hereby recommends that the Senate do consider and approve a Bill for an Act to authorise the issue from the Consolidated Revenue Fund of the Federation the total sum of N68 trillion,” he said.

Of the amount, he said that N4.7 trillion was for statutory transfers, N15.8 trillion for debt servicing and N15 trillion for recurrent (non-debt) expenditure, while N32 trillion was for contribution to the development fund for capital expenditure, with the accompanying schedules and details.

Adeola further said that bureaucratic bottleneck that led to the challenges of late releases of funds in 2025 should be addressed holistically.

“Deliberate efforts must be made in 2026 by the senate, in collaboration with the executive, to implement the 2026 appropriation holistically.

“The Appropriation (Repeal and Enactment) Act, 2025 should be extended to 30th June, 2026,” he said.

The senator added that the capital component reflected the Tinubu administration’s strong emphasis on infrastructure development, while the substantial allocation for debt servicing highlighted the continuing pressure of Nigeria’s debt obligations on public finances.

“Recurrent expenditure remains significant, covering personnel and administrative costs, while statutory transfers will fund key institutions, including the judiciary and other constitutionally-backed bodies.

“The budget approval comes alongside the senate’s consideration of sweeping adjustments requested by President Bola Tinubu, aimed at addressing outstanding capital commitments and funding strategic national projects.

“A major component of the adjustment is the inclusion of ₦5.71 trillion in legacy capital obligations carried over from the 2025 fiscal cycle, alongside ₦2 trillion earmarked for priority projects across key sectors,” he said.

In his remarks, Senate President, Godswill Akpabio,commended Adeola and members of the appropriation committee for their tireless work on the bill which had now been passed for the third time.

“Your dedication and sacrifice over several months have not gone unnoticed, and you have truly served the nation well.

“Our prayer in the senate is that God will grant the current President, Bola Tinubu, the necessary resources to meet the obligations of this budget for the benefit of our country.

“Congratulations to all distinguished senators and also to members of the House of Representatives who have worked collaboratively to ensure the passage of this bill.

“This joint effort has eliminated the need for a conference committee.

Congratulations as well to all Nigerians.

“With the loans approved and the anticipated increase in revenue from tax reforms, we are confident that this budget will be realistic, beneficial and capable of renewing hope across the nation.

“It is our expectation that this will contribute to a successful and impactful first term for the administration,” Akpabio stated.

Meanwhile, the Senate has approved another extension of implementation of the capital component of the 2025 budget from March 31 to June 30.

This followed the presentation of a Bill for an Act to amend the 2025 Appropriation Act to further extend the capital component of the Act from March 31 to June 30.

The bill was sponsored by Senate Leader, Opeyemi Bamidele (APC-Ekiti), at plenary on Tuesday.

Bamidele, while leading debate on the general principles of the bill, said the rationale for the amendment was both compelling and pragmatic.

He said that the execution of capital projects under the 2025 Appropriation Act had not reached an optimal level, despite the release of approximately 30 per cent of allocated funds to ministries departments and agencies (MDAs).

“This situation, if not urgently addressed, risks exacerbating the already troubling incidents of abandoned or partially executed projects across the country,” Bamidele said.

He said it was instructive to note that significant proportion of the projects had relevance, saying only about 70 per cent had been provided for under the 2026 appropriation framework.

He said without the extension, the president’s several critical national infrastructure and development initiatives might suffer avoidable discontinuity.

The lawmaker said that the bill was designed to ensure continuity, enhance budget performance and promote efficient utilisation of already released funds.

“It is also aimed at strengthening fiscal discipline and safeguarding public resources from waste.

“Furthermore, this extension will contribute meaningfully to economic reflation by sustaining capital expenditure flows, conserving jobs and supporting ongoing development efforts across key sectors of the economy,” he said.

The senator said it was imperative to provide MDAs with the necessary legal window to fully implement their projects in the overriding public interest.

He urged the lawmakers to give the bill expeditious and favourable consideration.

Deputy Senate President, Barau Jibrin (APC-Kano), while seconding the motion for approval of the bill, said President Bola Tinubu was determined to bring about enhanced and quick infrastructural development to the country.

“It is in tandem with the “Renewed Hope Agenda” of Mr President to bring about prosperity to our nation, and this cannot be done without building the critical infrastructure needed to bring about this vision to fruition.

“It is this regard that it is very important that time should be given so that the projects that have been started, that are ongoing, can be concluded. Otherwise, we will go into the problem of abandoned projects, which is inimical to our progress.

“It is very necessary, It is known to all that if we don’t do this, it will create a problem to the desire of Mr President to bring about the infrastructure development needed to bring prosperity to our nation,” he said.

Barau urged his colleagues to give expeditious passage to the bill.

The News Agency of Nigeria (NAN) reports that the senate, thereafter, passed the bill, extending the 2025 budget capital component implementation to June 30 after a clause-by-clause consideration