President Bola Ahmed Tinubu has formally requested Senate approval to increase the 2026 national budget by ₦9 trillion, signaling a major upward revision of the country’s fiscal plan.
The request was conveyed in a letter addressed to Godswill Akpabio and read during plenary on March 31, 2026.
The proposed adjustment would raise the budget from about ₦58.4 trillion to roughly ₦67–68 trillion, depending on final legislative alignment.
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The presidency stated that the increase is designed to regularise outstanding financial obligations from previous budgets, consolidate existing government debt, and accommodate key national projects within the 2026 fiscal framework.
A significant portion of the proposed increase targets unfunded capital commitments carried over from earlier appropriation cycles, particularly obligations from the 2025 budget that may not be executed before its expiration.
The revised plan also includes provisions for strategic infrastructure and national development projects, alongside efforts to align the financing structure of the budget with updated expenditure realities while maintaining macroeconomic stability.
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Following the submission, the Senate has referred the proposal to its Committee on Appropriations for detailed legislative review, after which it will return to plenary for final consideration and possible approval.
The development reflects ongoing fiscal adjustments by the administration as it seeks to balance legacy liabilities, new spending priorities, and economic stability within Nigeria’s 2026 budget framework.
Source: Nairametrics
