Reporting by Channels TV indicates that the Nigerian Parliament has officially passed the 2026 national budget, which has now ballooned to N68.323 trillion. This follows a late request from President Bola Tinubu for an additional N9.3 trillion to be integrated into the original fiscal plan. The expanded budget is designed to address critical infrastructure gaps and bolster national security efforts across the country’s volatile regions.
The legislative approval comes amid intense debate regarding the widening fiscal deficit, which experts now estimate could climb as high as N35 trillion. While the government maintains that the spending is necessary for economic stimulation, financial analysts warn that the heavy reliance on “forward-sold” crude oil revenue may limit the country’s ability to benefit from currently high global oil prices.
ThisDay reported that the budget expansion was necessary to “provide a cushion for the poorest citizens,” while The Nation noted that “lawmakers fast-tracked the approval to ensure immediate commencement of key capital projects.”
Echotitbits take: This is a record-breaking budget that places a heavy bet on infrastructure-led growth. The primary concern for Nigerians should be the implementation efficiency and how the government plans to plug a deficit that now makes up nearly half of the total expenditure without triggering hyper-inflation.
Source: The Guardian – https://guardian.ng/news/nass-okays-n68-3tr-budget-shifts-burden-of-funding-execution-to-fg/, April 7, 2026
Photo credit: The Guardian
