The Nigerian Senate has approved a ₦68 trillion budget for the 2026 fiscal year, increasing the initial proposal by ₦9 trillion.
The approval was announced by Senate President Godswill Akpabio during plenary after lawmakers reviewed and adopted the report of the Senate Committee on Appropriations.
The committee chairman, Adeola Olamilekan, presented the breakdown of the budget, detailing allocations across key sectors of government spending.
According to the report, ₦4.799 trillion was allocated for statutory transfers, while ₦15.809 trillion was set aside for debt servicing.
Recurrent expenditure, which covers salaries and operational costs, received ₦16.427 trillion, while ₦32.287 trillion was allocated for capital projects aimed at infrastructure and development.
Lawmakers approved the revised figures after deliberations, paving the way for implementation of the spending plan.
The 2026 budget is expected to run until December 31, 2026, and will guide government spending and economic priorities throughout the year.
Economic analysts say the increase reflects rising fiscal demands and ongoing efforts to address infrastructure gaps, manage debt obligations, and support public sector operations.
