By The House of Representatives has passed a ₦68.3 trillion budget for the 2026 fiscal year following the consideration and adoption of the report of its Committee on Appropriations.
Chairman of the Committee, Abubakar Kabir, who represents Kano State, presented the report after weeks of legislative review. He said the approval reflects adjustments requested by President Bola Ahmed Tinubu to the 2026 Appropriation Bill and its financing framework.
According to the committee, key provisions in the budget include ₦7.71 trillion for legacy capital obligations linked to the 2025 budget, as well as ₦2 trillion for priority capital projects not rolled over into the 2026 fiscal plan.
A breakdown of the approved budget shows:
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₦4.79 trillion for statutory transfers
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₦16.80 trillion for debt servicing
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₦15.41 trillion for recurrent (non-debt) expenditure
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₦32.25 trillion allocated to the Development Fund for capital expenditure
The report was adopted clause-by-clause at the Committee of Supply through a voice vote.
In addition, the House approved the President’s request for a ₦5 billion loan from Abu Dhabi Bank to support a structured total return swap external financing programme aimed at enhancing the Federal Government’s fiscal liquidity.
Lawmakers also approved a separate request for a $1.94 billion loan for the rehabilitation of the Lagos Sports Complex.
Furthermore, the House granted approval for the extension of the implementation of the capital component of the 2025 budget from March 31 to June 30, 2026.
