Tinubu writes n’assembly, proposes N9trn increase to 2026 budget

President Bola Tinubu has asked the national assembly to approve adjustments to the 2026 appropriation bill, proposing an increase of N9 trillion.

The request was contained in a letter, dated March 30 and addressed to Senate President Godswill Akpabio, which was read during plenary on Tuesday.

If approved, the adjustment will raise the proposed 2026 budget from N58.4 trillion to N68.32 trillion.

Tinubu said the request was aimed at strengthening fiscal transparency and ensuring effective implementation of priority national programmes.

“Pursuant to the powers vested in me by the Constitution of the Federal Republic of Nigeria 1999 (as amended), and in furtherance of orderly budget execution, fiscal transparency, and effective implementation of priority national programmes, I hereby transmit proposed adjustments to the 2026 appropriation bill for the consideration of the senate,” the letter read.

The president said the proposed adjustments are intended to achieve three objectives.

He said the first objective is to regularise outstanding legacy capital commitments carried forward from previous appropriation cycles.

Tinubu said the move would ensure that the 2026 fiscal programme is not burdened by unresolved obligations from earlier budgets.

The president also proposed the consolidation of outstanding government indebtedness from previous fiscal cycles into the 2026 appropriation framework.

Tinubu said the adjustment would also allow the government to provide for a limited number of strategic additions in sectors such as transport, health, and institutional preparedness.

He added that the proposal aims to align the financing plan of the 2026 budget with revised expenditure requirements.

According to him, the adjustment is designed to preserve macro-fiscal stability and minimise pressure on the domestic credit market.

Tinubu asked the national assembly to approve the regularisation of N5.7 trillion in outstanding unfunded capital obligations arising from the 2025 appropriation act.

He also sought approval for an additional N2 trillion capital supplementation for priority projects across sectors nationwide.

The president said the request had become necessary because the outstanding obligations are unlikely to be implemented before the expiration of the 2025 capital budget implementation window.

Tinubu added that the proposed adjustments also include strategic interventions of national importance.

The interventions include a federal government equity provision of N478.6 billion under the ministry of finance to support presidential legacy light rail projects in Lagos and Kano, alongside feasibility studies for urban light rail projects in Enugu and Maiduguri.

He said the proposal also includes N8.6 billion for feasibility studies on the Calabar–Maiduguri corridor and the Maiduguri–Sokoto superhighway under the Renewed Hope National Beltway initiative.

Akpabio subsequently referred the proposal to the senate committee on appropriations for legislative consideration.(TheCable)