Just in, House Of Reps pass N58.47tn 2026 budget, says Nigeria has not printed single naira under Tinubu. Reps On Thursday passed President Bola Tinubu’s N58.47 trillion 2026 Appropriation Bill for second reading.
During plenary, the “Budget of Consolidation, Renewed Resilience, and Shared Prosperity” budget plan for 2026 passed without any discussion.
In December of last year, President Tinubu presented the 2026 budget to a joint session of the National Assembly.
According to the proposal’s breakdown, overall spending is projected to be between N58.18 and N58.47 trillion. N15.91 trillion is set aside for debt servicing, whereas N4.09 trillion is allocated for statutory transfers.
The amount spent on recurring (non-debt) expenses is N15.25 trillion. The Development Fund is anticipated to distribute the majority of the capital spending, which is estimated to be between N23.21 trillion and N26.08 trillion.
Reps pass N58.47tn 2026 budget, says Nigeria has not printed single naira under Tinubu
The budget seeks N34.33 trillion in revenue, with a budgetary deficit of N23.85 trillion. The House Leader, Julius Ihonvbere, presented the bill’s broad principles, describing the budget as a key step in Nigeria’s pursuit of peace, economic stability, prosperity, and sustainable development.
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He stated that the Tinubu administration has maintained budgetary restraint, noting that no new naira has been produced since the government took office, mostly through the Central Bank of Nigeria’s Ways and Means advances.
We have not printed a single naira since this government took office. “This fiscal discipline has helped to stabilize the economy,” Ihonvbere stated. Following the second reading, Speaker of the House Tajudeen Abbas forwarded the spending bill to the House Committee on Appropriations for further review.
