The Senate has approved the N68.3 trillion Appropriation Bill for the 2026 fiscal year. The greenlight follows the presentation of the report by the Senate Committee on Appropriations during Tuesday's plenary session. Senator Solomon Olamilekan (APC, Ogun West), chairman of the committee, presented the report in the Committee of Supply. He noted that the proposed budget reflects a 14.2% increase over the N59.8 trillion 2025 budget estimate. The bill will now proceed to the House of Representatives for concurrence.
A 14.2% budget hike comes amid stagnant revenue projections and rising debt servicing costs. Senator Solomon Olamilekan presided over a process that assumes economic growth will outpace inflation and borrowing needs. If past spending patterns hold, agencies may struggle to absorb such a sum efficiently. For Nigerians, more naira in the budget does not guarantee better roads, schools or hospitals.
