The House of Representatives on Thursday passed President Bola Tinubu’s N58.47 trillion 2026 Appropriation Bill for second reading, with lawmakers highlighting what they described as improved fiscal discipline under the current administration.
The budget proposal, titled “Budget of Consolidation, Renewed Resilience, and Shared Prosperity,” sailed through plenary without debate.
President Tinubu had presented the 2026 budget to a joint sitting of the National Assembly in December 2025.
Presenting the general principles of the bill, House Leader Julius Ihonvbere said the Tinubu administration has not printed new money since assuming 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 stabilise the economy,” Ihonvbere said.
A breakdown of the proposal shows that total expenditure is estimated at between N58.18 trillion and N58.47 trillion. Statutory transfers are pegged 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 at between N23.21 trillion and N26.08 trillion, with much of the funding expected to come through the Development Fund.
On the revenue side, the government targets N34.33 trillion, leaving a fiscal deficit of N23.85 trillion.
Following the second reading, Speaker Tajudeen Abbas referred the appropriation bill to the House Committee on Appropriations for further legislative consideration.
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