Senate Passes ₦68.32trn 2026 Budget, Increases Tinubu’s Proposal

The Senate on Tuesday passed Nigeria’s ₦68.32 trillion 2026 Appropriation Bill, marking a sharp increase from the ₦58.47 trillion initially presented by Bola Ahmed Tinubu in December 2025.

The upper chamber approved the revised figure following a formal request by the President, who sought an upward review of the budget to reflect additional fiscal realities, legacy obligations, and priority national projects.

The spending plan, themed “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” is aimed at sustaining macroeconomic reforms, boosting economic growth, job creation, and poverty reduction, while strengthening social protection for vulnerable Nigerians.

The approved total of ₦68,323,309,818,667 includes ₦4.8 trillion for statutory transfers, ₦15.81 trillion for debt servicing, ₦15.43 trillion for recurrent expenditure, and ₦32.29 trillion for capital expenditure, with the capital component taking the largest share to drive infrastructure and development.

A major driver of the increase is the inclusion of about ₦7.71 trillion to settle outstanding capital projects rolled over from the 2025 fiscal year, alongside an additional ₦2 trillion earmarked for new priority interventions across sectors. Lawmakers noted that a significant number of 2025 projects could not be completed due to revenue constraints, necessitating their rollover.

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• Senate approves Tinubu’s $6bn loan request

The Senate also approved key strategic interventions, including ₦478.6 billion as equity contribution for presidential legacy rail projects in Lagos, Kano, Kaduna, and Ogun states, as well as feasibility studies for urban rail systems in Enugu and Maiduguri. It further cleared ₦8.96 billion for feasibility studies covering the Calabar–Maiduguri corridor and the Maiduguri–Sokoto superhighway, underscoring a renewed focus on nationwide connectivity.

In the health sector, the budget provides ₦482.76 billion for critical interventions tied to Nigeria’s bilateral and multilateral commitments, while the judiciary received significant allocations. These include ₦98.5 billion for the Court of Appeal, ₦36.7 billion for the Supreme Court, and ₦268.54 billion to strengthen judicial capacity, particularly ahead of the 2027 general elections.

On the revenue side, the fiscal framework is supported by an upward adjustment of the oil benchmark, projected to generate an additional ₦2.59 trillion, alongside increased non-oil revenue expectations. Lawmakers highlighted improved performance in the telecommunications sector, projecting about ₦724 billion in company income tax from MTN Nigeria and ₦150 billion from Airtel Nigeria.

To finance the deficit, the government proposed additional borrowings of about ₦6.16 trillion, reflecting ongoing reliance on debt to support budget expansion amid revenue limitations.

The bill underwent extensive legislative scrutiny, including committee reviews, engagements with the President’s economic team, and a public hearing involving Ministries, Departments and Agencies (MDAs), civil society organisations, and other stakeholders.

The Senate Committee on Appropriations explained that the adjustments were necessary to “regularise outstanding legacy capital commitments” and prevent the 2026 budget from being weighed down by unresolved obligations. It also noted that nearly 70 per cent of capital projects were rolled over due to revenue shortfalls in 2025.

Lawmakers expressed concerns over delays in fund releases during the previous fiscal year and warned against bureaucratic bottlenecks that could hinder implementation. They called for stronger coordination between the executive and legislature, alongside strict oversight to ensure that budgetary allocations translate into tangible development outcomes.

In a related resolution, the Senate approved the extension of the 2025 Appropriation Act implementation period to June 30, 2026, to allow completion of ongoing projects.

Speaking after the passage, Senate President Godswill Akpabio said the revised budget would ensure adequate funding for critical sectors and accelerate national development. He added that the harmonised work between both chambers eliminated the need for a conference committee and expressed optimism that increased revenue—particularly from ongoing tax reforms—would support effective implementation.

The passage of the 2026 budget signals the Federal Government’s continued push to balance economic reforms, infrastructure expansion, and social investment, even as concerns persist over rising debt levels and fiscal sustainability.

Senate Passes ₦68.32trn 2026 Budget, Increases Tinubu’s Proposal

Senate approves Tinubu’s $6bn loan request

The Senate on Tuesday approved President Bola Ahmed Tinubu’s request to secure external loans totalling $6bn to finance key infrastructure projects and support budget implementation.

The approval followed the consideration of a report presented by the Chairman of the Senate Committee on Local and Foreign Debts, Aliyu Wamakko, shortly after the President’s request was read on the floor by Senate President Godswill Akpabio.

The loan request was transmitted to the upper chamber in two separate letters. In the first, the President sought approval to obtain up to $5bn through a structured financing arrangement with First Abu Dhabi Bank to address funding gaps in the 2026 budget, meet existing financial obligations, and support priority projects.

In the second request, Tinubu asked the Senate to approve a $1bn loan facility backed by UK Export Finance and arranged by Citibank, London, for the rehabilitation of the Lagos Port Complex and Tin Can Island Port.

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According to the President, the port rehabilitation projects are expected to enhance operational efficiency, improve safety standards, and strengthen Nigeria’s competitiveness as a regional maritime hub.

Presenting the committee’s report, Wamakko said the proposed loans were in line with existing laws and necessary to fund critical infrastructure and stimulate economic growth.

The Senate subsequently approved the requests after deliberations, signalling legislative backing for the Federal Government’s plan to bridge fiscal deficits through external borrowing.

The approval underscores the government’s continued reliance on foreign loans to support development projects amid mounting fiscal pressures.

Senate approves Tinubu’s $6bn loan request

Plateau Palm Sunday Massacre: US Lawmaker Warns Nigeria

The United States lawmaker, Riley Moore, has issued a strong warning to Nigerian authorities following a deadly Palm Sunday attack in Jos, Plateau State, describing it as part of a disturbing pattern of attacks on Christians during religious observances. Moore, reacting via his X handle, stated that at least 10 Christians were killed in Jos, adding: “Radical Islamic terrorists opened fire on the Christians before hacking them to pieces with machetes. This is sickening and unacceptable, but it’s not surprising.”

He warned that such incidents are increasingly recurrent. “This tragedy follows a pattern of radical Islamic terrorists massacring Christians on Holy Days. In fact, terrorists have attacked Christians in Nigeria on every single holy day in recent memory,” he said. The lawmaker urged the Nigerian government to take immediate and decisive action, saying, “Abuja knows this pattern and they must massively ramp up security for the Triduum and Easter. If they don’t take this threat seriously and mobilise to defend our brothers and sisters in Christ, blood of these martyrs will be on their hands, and there will be significant consequences for Nigeria’s relationship with the United States.”

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The violence took place on March 29, 2026, in Gari Ya Waye, Angwan Rukuba, Jos North Local Government Area, when suspected gunmen on motorcycles opened fire on residents. Eyewitnesses described chaos and panic, with families fleeing as the assailants moved through crowded streets, targeting civilians, traders, and passersby. State authorities confirmed that 27 people were killed and many others injured in the attack. Following the tragedy, Plateau State Governor Caleb Mutfwang imposed a 48-hour curfew in affected areas and directed security agencies to intensify efforts to apprehend the perpetrators.

The attack prompted widespread outrage, with residents defying the curfew to protest and demand improved security. Civic groups and community leaders condemned the killings, calling for urgent action to protect civilians. The Christian Association of Nigeria (CAN) decried the attacks, demanding accountability and highlighting the repeated targeting of Christian communities during religious holidays.

Moore’s warning underscores the international attention on security challenges in Nigeria’s Middle Belt, where violence from armed groups and communal conflicts remains a persistent threat. Analysts say attacks like the Palm Sunday killings risk eroding confidence in Nigeria’s ability to protect its citizens and could strain diplomatic relations with key allies such as the United States.

Plateau Palm Sunday Massacre: US Lawmaker Warns Nigeria