President Bola Tinubu has officially requested the Senate’s approval to raise Nigeria’s 2026 Appropriation Bill by N9 trillion, taking the total budget from N58.4 trillion to N67.4 trillion. The request, delivered in a letter to Senate President Godswill Akpabio and read during Tuesday’s plenary session, is described as a measure to strengthen fiscal transparency and ensure the effective implementation of priority national programs.
According to the News Agency of Nigeria, Tinubu highlighted three key objectives for the proposed increase. The first is to regularize and account for outstanding commitments from previous appropriation cycles to prevent them from burdening the 2026 budget. The second is to consolidate existing government debt while allocating funds for strategic and priority projects. Third, the revision aims to align the 2026 financing plan with updated expenditure levels while preserving macro-fiscal stability and easing pressure on domestic financial markets.
The move comes as the Tinubu administration continues to face challenges in balancing record spending with limited revenue growth. Since taking office in 2023, the government has relied heavily on deficit financing to fund its programs, but capital expenditure targets have often fallen short due to a growing debt burden. Current oil output remains low at about 1.5 million barrels per day, keeping revenues constrained and raising the likelihood that the government will tap non-oil sources like taxes, asset sales, and grants to fund obligations.
Following the submission of the letter, Senate President Akpabio referred the request to the Committee on Appropriation for detailed review. The committee will examine whether the revised budget can accommodate both legacy obligations and new priority projects without destabilizing the economy. The final decision will influence the nation’s fiscal trajectory and the government’s ability to fund critical sectors such as security, infrastructure, education, and health.
President Tinubu initially presented the 2026 budget in December 2025, which already projected a N23.85 trillion deficit. Total expected revenue stood at N34.33 trillion, with expenditures of N58.18 trillion, including N15.52 trillion earmarked for debt servicing. The budget emphasizes key national priorities, aiming to consolidate reforms and drive sustainable, inclusive growth across Nigeria. With the new N9 trillion request, the administration signals its intent to address past commitments while pursuing strategic development goals.
source: nairametrics