NASS passes N68trn 2026 budget, boosts RMAFC allocation

By Henry Umoru & Gift ChapiOdekina, Abuja

The National Assembly has passed the N68.323 trillion 2026 budget, representing a N9 trillion increase from the initial N58.47 trillion proposal presented by President Bola Tinubu.

The increase was made following adjustments by the executive, which were concurred with by lawmakers, to cover unfunded capital obligations, priority projects across sectors, and critical infrastructure initiatives.

Budget Breakdown
Aggregate Expenditure: N68.323 trillion
Statutory Transfers: N4.8 trillion
Debt Servicing: N15.8 trillion
Recurrent (Non-Debt) Expenditure: N15.4 trillion
Capital Expenditure / Development Fund: N32.3 trillion

The passage followed reports from the Senate Committee on Appropriations, chaired by Senator Solomon Adeola (APC, Ogun West), and the House Committee on Appropriations, chaired by Abubakar Kabir Bichi, culminating in the third reading and passage of the Appropriation Bill.

Key Adjustments and Funding Sources

The budget adjustments include:

₦5.71 trillion for unfunded capital obligations from the 2025 Appropriation Act
₦2 trillion for priority projects nationwide
₦478.6 billion under the Ministry of Finance Incorporated framework for Presidential Legacy Light Rail Projects in Lagos, Kano, Kaduna, and Ogun States
₦8.96 billion for feasibility studies on the Calabar–Maiduguri Corridor and Maiduguri–Sokoto Superhighway
₦482.76 billion (US$344.83 million) for priority health sector interventions
₦98.5 billion for the Court of Appeal, ₦36.7 billion for the Supreme Court, and ₦268.54 billion for judicial expansion ahead of the 2027 elections

Funding sources include an increase in the oil benchmark from $65 to $75 per barrel, projected revenue from telecommunications companies (MTN and Airtel) generating ₦874 billion, and additional external borrowings of ₦6.16 trillion.

Senate Remarks

Senator Solomon Adeola highlighted that the increased capital expenditure reflects the government’s focus on security, health, education, infrastructure, and social welfare, and will allow the completion of outstanding 2025 projects.

The Senate President, Godswill Akpabio, commended the Appropriations Committee and the House of Representatives for their collaborative effort, noting that the budget, if well-implemented, would support Nigeria’s macroeconomic stability and job-rich growth.

RMAFC Allocation

The Senate also approved N183.71 billion for the Revenue Mobilization, Fiscal and Allocation Commission (RMAFC).

Personnel Costs: N35.82 billion
Overhead Costs: N5.82 billion
Capital Expenditure: N142.07 billion
Total Allocation: N183.71 billion

The approval followed consideration of the report by the Senate Committee on National Planning and Economic Affairs, chaired by Senator Musa Mustapha (APC, Yobe East).

The Senate adjourned plenary until April 21, 2026.

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