President Bola Ahmed Tinubu has formally requested the Senate to approve an upward revision of the 2026 national budget, proposing an additional N9.3 trillion to raise the total from N58.47 trillion to N67.7 trillion.
The request was communicated in a letter presented during plenary by Senate President Godswill Akpabio following lawmakers’ return from the Eid-el-Fitr recess at the National Assembly.
According to the President, the proposed increase is primarily aimed at addressing outstanding legacy capital projects inherited from previous budgets, with a focus on ensuring their completion.
He noted that the adjustment would also provide critical funding for key transport infrastructure projects aligned with his administration’s development agenda.
President Tinubu further explained that the budget expansion is designed to maintain macro-fiscal stability while easing pressure on the domestic financial market, signaling the government’s intent to balance increased spending with economic sustainability.
Following the presentation, the Senate President referred the proposal to the Senate Committee on Appropriations for detailed legislative scrutiny and consideration.
Notably, the 2026 budget is yet to be passed by the National Assembly, making this latest request a significant amendment to the already proposed fiscal framework.
The development is expected to generate debate among lawmakers and economic stakeholders, particularly regarding funding sources, implementation capacity, and the broader implications for Nigeria’s fiscal outlook.
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