The House of Representatives has passed the 2026 Appropriation Bill valued at N68.3 trillion, marking a significant increase of about N10 trillion from the initial proposal submitted by President Bola Ahmed Tinubu in December 2025.
The passage followed the adoption of the report of the House Committee on Appropriations and its consideration at the Committee of Supply during plenary presided over by Speaker Abbas Tajudeen.
The 2026 budget, originally proposed at N58.18 trillion and themed “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” is designed to consolidate ongoing economic reforms and improve living standards across the country.
Budget Breakdown
Under the approved framework, the appropriation provides for:
- N4.8 trillion for statutory transfers
- N15.8 trillion for debt servicing
- N15.4 trillion for recurrent (non-debt) expenditure
- N32.2 trillion for capital expenditure
The capital component represents the largest share of the budget, reflecting the government’s focus on infrastructure and development projects.
Extension of 2025 Budget Implementation
In a related development, the House approved an amendment extending the implementation of the capital component of the 2025 Appropriation Act. The new deadline shifts from March 31 to June 30, 2026, to allow for the completion of ongoing projects.
Approval of External Loans
Lawmakers also approved external borrowing requests totalling $6 billion to support infrastructure and fiscal stability. This includes:
- A $5 billion Total Return Swap financing arrangement with First Abu Dhabi Bank
- A $1 billion UK Export Finance-backed loan facility arranged by Citibank for the rehabilitation and modernisation of Lagos Port Complex and Tin Can Island Port Complex
According to the presidency, the loans are targeted at addressing infrastructure gaps, improving operational efficiency, enhancing safety standards, and boosting Nigeria’s competitiveness as a regional trade hub.
Political Realignments in the House
The plenary session also witnessed notable political shifts, as 29 lawmakers announced their defection from their respective parties, citing internal crises and leadership disagreements.
The changes affected both Majority and Minority caucuses, with movements recorded across parties including the Peoples Democratic Party (PDP), New Nigeria Peoples Party (NNPP), Labour Party (LP), African Democratic Congress (ADC), Accord Party (AP), and Action Peoples Party (APP).
Adjournment
Following the day’s proceedings, the House adjourned plenary to April 21, 2026, to allow members observe the Easter break and engage with constituents.
The passage of the budget signals a key step in Nigeria’s fiscal planning for 2026, with lawmakers emphasising economic stability, infrastructure development, and sustained reform efforts.
