Chukwu David 
The Senate on Tuesday passed the 2026 Appropriation Bill of ₦58.472 trillion for second reading after lawmakers debated the general principles of the proposed spending plan.
The bill was presented for debate by the Senate Leader, Senator Opeyemi Bamidele, during plenary, following President Bola Ahmed Tinubu’s presentation of the budget to a joint session of the National Assembly last week.
The Senate also clarified the discrepancy between the ₦58.18 trillion figure announced in President Tinubu’s budget speech and the ₦58.472 trillion contained in the official budget document submitted to the legislature.
Chairman of the Senate Committee on Appropriations, Senator Solomon Adeola, confirmed the higher figure while speaking with journalists at the end of plenary.
“I can confirm that the bill submitted by Mr President contains ₦58.47 trillion. As chairman of the Appropriations Committee, that is the figure I will be working with. The bill itself is a formal document and is more authoritative than the budget speech,” Adeola said.
President Tinubu’s budget speech, both in text and audio versions, had earlier stated ₦58.18 trillion as the proposed total expenditure for the 2026 fiscal year, a difference that sparked public debate. The Senate’s clarification effectively laid the controversy to rest.
Presenting the bill, Senator Bamidele said the proposed legislation seeks authorisation to withdraw a total of ₦58,472,628,944,759 from the Consolidated Revenue Fund of the Federation, including ₦4,097,381,103,856 earmarked for statutory transfers.
He said the 2026 budget presents an opportunity for the Senate to reinforce fiscal discipline, promote accountability and ensure that public funds deliver tangible outcomes for Nigerians.
According to him, the Executive acknowledged the challenges encountered in the implementation of the 2025 budget, including revenue shortfalls and expenditure pressures, but has committed to stronger fiscal discipline in 2026.
Bamidele said the government plans stricter oversight of Government-Owned Enterprises, improved digitised revenue mobilisation, zero tolerance for leakages and performance-based accountability.
He explained that the philosophy of the 2026 budget is anchored on consolidating macroeconomic stability, improving the business and investment environment, promoting job-rich growth and poverty reduction, and strengthening human capital while protecting the vulnerable.
The Senate Leader noted that expected revenues of ₦34.33 trillion against projected expenditure of ₦58.18 trillion, including ₦15.52 trillion for debt servicing, place the budget deficit at 4.28 per cent of GDP, which he said falls within approved medium-term fiscal parameters.
He added that capital expenditure of over ₦26 trillion reflects a strong development focus, while recurrent spending has been restrained.
Several senators who contributed to the debate commended President Tinubu for what they described as a forward-looking budget.
Senator Adamu Aliero praised the allocation to security, stressing that national growth is impossible without peace and stability.
Former Senate President Ahmad Lawan urged the Executive to ensure that political activities in 2026 do not undermine effective budget implementation, while calling for increased funding for the newly created Ministry of Livestock Development.
Senator Adams Oshiomhole highlighted allocations to security, education and healthcare, urging the government to ensure value for money.
Chairman of the Senate Committee on Finance, Senator Sani Musa, observed that the proposal prioritised infrastructure development, which he said would help bridge Nigeria’s infrastructure deficit.
Senator Diket Plang said the budget prioritised macroeconomic stability, growth and infrastructure, expressing optimism that the 2026 fiscal year would be more productive for Nigerians.
Other contributors, including Senators Abbas Aminu, Asuquo Ekpenyong, Osita Izunaso, Emmanuel Udende, Saliu Mustapha and Jide Ipinsagba, called for effective implementation and an end to multiple-year budget rollovers.
Minority Leader Abba Moro described the proposal as promising and capable of laying the foundation for a more prosperous Nigeria.
In a related development, the Senate also passed the 2024 and 2025 Appropriation Act (Repeal and Re-enactment) Bills amounting to ₦43 trillion.
The passage followed the consideration and adoption of the report of the Senate Committee on Appropriations.
Following the approval of the bills, the Senate adjourned plenary for the year 2025 and is scheduled to resume on January 27, 2026.
