The House of Representatives on Tuesday passed the 2026 Appropriation Bill valued at ₦68.3 trillion, marking a significant increase of about ₦10 trillion from the initial proposal submitted by 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 the Speaker, Abbas Tajudeen.
President Tinubu had presented a ₦58.18 trillion budget proposal to a joint session of the National Assembly on December 19, 2025, under the theme “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” aimed at consolidating economic reforms and improving living standards.
After its presentation, the House debated the general principles of the bill on January 29, 2026, before referring it to the Appropriations Committee for detailed scrutiny and budget defence sessions involving Ministries, Departments and Agencies (MDAs) as well as Government-Owned Enterprises (GOEs).
Under the approved breakdown, the budget provides ₦4.8 trillion for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent (non-debt) expenditure, and ₦32.27 trillion for capital expenditure for the fiscal year ending December 31, 2026.
In a related development, the House also passed an amendment to the 2025 Appropriation Act, extending the implementation of its capital component from March 31, 2026, to June 30, 2026, to allow for the completion of ongoing projects.
Lawmakers further approved two external borrowing requests transmitted by President Tinubu, including a $5 billion Total Return Swap financing arrangement with First Abu Dhabi Bank to support fiscal liquidity, and a $1 billion facility backed by UK Export Finance, arranged by Citibank, for the rehabilitation and modernisation of the Lagos Port Complex and Tin Can Island Port Complex.
According to the President, the projects are expected to address infrastructure deficits, improve efficiency and safety, boost non-oil trade, and strengthen Nigeria’s position as a regional trade hub.
The plenary also witnessed notable political realignments, as 29 lawmakers announced their defection from their respective parties, citing internal disputes and leadership crises. The Majority Caucus gained members from the New Nigeria Peoples Party (NNPP) and the Peoples Democratic Party (PDP), while some members defected to the Labour Party (LP) and the African Democratic Congress (ADC). Additional movements were recorded within the Minority Caucus, reflecting shifting alliances in the political landscape.
The House subsequently adjourned plenary to April 21, 2026, to allow members engage with their constituents and observe the Easter celebrations.
