The National Assembly, on Tuesday, approved a N68.323 trillion federal budget for 2026, making a N9 trillion increase on the N58.47 trillion proposal earlier submitted by President Bola Tinubu.
RoundReports understands that the upward review followed executive adjustments endorsed by lawmakers to accommodate unfunded capital obligations, nationwide priority projects and major infrastructure initiatives.
The Appropriation Bill scaled its final hurdle after consideration of reports from the Senate and House committees on appropriations.
According to the breakdown presented, N5.71 trillion was allocated to cover unfunded capital commitments carried over from the 2025 Appropriation Act, while N2 trillion was set aside for priority projects across sectors.
A further N478.6 billion was approved under the Ministry of Finance Incorporated framework for Presidential Legacy Light Rail projects in Lagos, Kano, Kaduna and Ogun states.
Lawmakers also approved N8.96 billion for feasibility studies on the Calabar–Maiduguri corridor and the Maiduguri–Sokoto superhighway, alongside M482.76 billion (about $344.83 million) for priority health interventions.
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The judiciary received expanded funding, including N98.5 billion for the Court of Appeal, N36.7 billion for the Supreme Court and N268.54 billion earmarked for judicial expansion ahead of the 2027 elections.
Funding assumptions underpinning the revised budget include a rise in the oil price benchmark from $65 to $75 per barrel, projected revenue of N874 billion from telecommunications operators such as MTN and Airtel, as well as additional external borrowing estimated at N6.16 trillion.
Presenting the Senate committee’s report, its chairman Solomon Adeola said the expanded capital vote reflected the government’s priorities in security, health, education, infrastructure and social welfare, while allowing for the completion of outstanding 2025 projects.
Senate President Godswill Akpabio praised the coordination between the two chambers, arguing that effective implementation of the budget would bolster macroeconomic stability and support job-rich growth.
In a related decision, the Senate approved N183.71 billion for the Revenue Mobilization, Fiscal and Allocation Commission following consideration of a report by the Committee on National Planning and Economic Affairs.
Plenary was adjourned until 21 April 2026.