The House of Representatives on Thursday passed President Bola Tinubu’s N58.47 trillion 2026 Appropriation Bill for second reading.
Titled “Budget of Consolidation, Renewed Resilience, and Shared Prosperity,” the budget sailed through plenary without debate. President Tinubu had presented the proposal to a joint sitting of the National Assembly in December 2025.
The breakdown of the proposal indicates total expenditure of 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 stands at N15.25 trillion. Capital expenditure is projected between N23.21 trillion and N26.08 trillion, with most funding expected to be disbursed through the Development Fund. On the revenue side, the budget targets N34.33 trillion, leaving a fiscal deficit of N23.85 trillion.
Presenting the general principles of the bill, House Leader Julius Ihonvbere described the budget as a crucial step in Nigeria’s drive for peace, economic stability, growth, and sustainable development. He noted that the Tinubu administration has maintained fiscal discipline, stating 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, Speaker of the House Tajudeen Abbas referred the appropriation bill to the House Committee on Appropriations for further legislative scrutiny and consideration.
