President Bola Tinubu has requested Senate approval for a major upward review of the 2026 budget, proposing an additional ₦9 trillion to the Appropriation Bill.
The request, conveyed in a letter read on the Senate floor during plenary by the Senate President, Godswill Akpabio, would raise the budget from ₦58.4 trillion to ₦67.4 trillion.
According to the President, the proposed adjustment is intended to strengthen fiscal transparency and ensure the more effective implementation of priority national programmes.
He explained that the increase will first address outstanding legal commitments carried over from previous appropriation cycles, preventing them from hindering the execution of the 2026 budget.
The proposal also aims to consolidate existing government debt within the fiscal framework while making provisions for a select number of strategic and priority projects.
President Tinubu added that the revised financing plan is designed to preserve macro-fiscal stability and reduce pressure on the domestic financial market.
The Senate is expected to consider the request in the coming days, determining whether the proposed upward adjustment will be approved.
