Manny Ita –
President Bola Ahmed Tinubu has formally requested the National Assembly of Nigeria to approve an upward review of the 2026 Appropriation Bill, proposing an additional ₦9 trillion to the initial budget estimate. The request raises the total proposed spending plan from about ₦58.4 trillion to approximately ₦67.4 trillion.
The proposal was communicated in a letter read during plenary by Senate President Godswill Akpabio, marking a significant fiscal adjustment just months after the original budget framework was presented.
According to the presidency, the increase is largely aimed at addressing outstanding financial commitments and legacy capital projects carried over from previous budgets. The government noted that regularising these obligations would ensure smoother execution of the 2026 budget and prevent disruptions to ongoing infrastructure and development programmes.
Officials also indicated that the adjustment is intended to strengthen fiscal transparency and improve the implementation of priority national projects, particularly those that have faced delays due to funding gaps or overlapping budget cycles in past years.
In a swift legislative response, the House of Representatives Nigeria reportedly moved ahead with deliberations and approved a revised budget figure of about ₦68.30 trillion, slightly higher than the president’s request. This suggests that lawmakers may have introduced additional adjustments during the review process, further expanding the fiscal envelope for 2026.
The development signals an expansionary fiscal stance by the federal government, reflecting efforts to accelerate economic growth, complete stalled infrastructure, and stabilise public finance management. However, it also raises concerns among analysts about the implications for Nigeria’s fiscal deficit, borrowing levels, and debt sustainability if revenue projections do not match the increased expenditure.
The revised budget now awaits final harmonisation and approval by both chambers of the National Assembly before being transmitted back to the president for assent.
