The Federal Executive Council (FEC) has approved the 2026 Appropriation Bill, paving the way for President Bola Ahmed Tinubu to present the budget proposal to the National Assembly.
The approved budget has an aggregate expenditure of ₦58.47 trillion, representing a six percent increase over the 2025 budget estimate.
This includes ₦4.98 trillion for government-owned enterprises, ₦1.37 trillion for grants and donor-funded projects, and ₦4.1 trillion for statutory transfers.
The budget prioritizes debt servicing (₦15.52 trillion), personnel costs (₦10.75 trillion), and capital expenditure (₦25.68 trillion).
Non-oil revenues are expected to account for about two-thirds of total government receipts, driven by corporate income tax, value-added tax, and customs duties.
