Senate Passes Revised N68.3 Trillion 2026 Budget

On March 31, the Senate approved a N68.32 trillion 2026 Appropriation Bill, up from the N58.47 trillion initially proposed by President Tinubu in December 2025. The upward review was requested to accommodate outstanding capital projects and new priority initiatives. The approved budget allocates N32.29 trillion to capital expenditure, N15.81 trillion for debt servicing, N15.43 trillion for recurrent costs, and N4.8 trillion for statutory transfers. The increase reflects N7.71 trillion carried over from 2025 capital obligations and an additional N2 trillion for sectoral priority projects. Key interventions include equity funding for presidential legacy light rail projects in Lagos, Kano, Kaduna, and Ogun states, feasibility studies for new urban rail systems, and major highway corridors. The health sector received N482.76 billion for bilateral commitments, while the judiciary is set to get over N400 billion to boost capacity ahead of the 2027 elections.

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