The House of Representatives on Thursday passed President Bola Tinubu’s N58.47 trillion 2026 Appropriation Bill for second reading.
The 2026 budget proposal, titled “Budget of Consolidation, Renewed Resilience, and Shared Prosperity,” was approved during plenary without debate.
President Tinubu had presented the 2026 budget to a joint session of the National Assembly in December 2025.
Details of the proposal indicate that total expenditure is estimated between N58.18 trillion and N58.47 trillion. Statutory transfers are set at N4.09 trillion, while N15.91 trillion is allocated for debt servicing. Recurrent non debt expenditure is projected at N15.25 trillion.
Capital expenditure is estimated to range between N23.21 trillion and N26.08 trillion, with the bulk of funding expected to be channeled through the Development Fund.
On the revenue side, the budget targets N34.33 trillion, resulting in a projected fiscal deficit of N23.85 trillion.
Presenting the general principles of the bill, the House Leader Julius Ihonvbere described the budget as a key instrument for advancing peace, economic stability, growth and sustainable development in the country.
He stated that the Tinubu administration has demonstrated fiscal discipline, stressing that no new naira has been printed since the government assumed office, particularly through the Central Bank of Nigeria’s Ways and Means advances.
“We have not printed a single naira since this government came into office. That fiscal discipline has helped to stabilize the economy,” Ihonvbere said.
Following the second reading, the Speaker of the House Tajudeen Abbas referred the appropriation bill to the House Committee on Appropriations for further legislative consideration.
