The Nigerian Senate has approved a N68 trillion budget for the 2026 fiscal year, representing an increase of N9 trillion from the initial proposal of N59 trillion.
The budget allocation includes:
N4.8 trillion for statutory transfer
N15.8 trillion for debt servicing
N15.4 trillion for recurrent (non-debt) expenditure
N32.3 trillion earmarked for capital expenditure through contributions to the development fund
The budget covers the period ending 31st December 2026.
Details on sectoral allocations and implementation plans are expected to follow…