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Tinubu Seeks Senate Backing for ₦9tn Budget Increase, Targets Fiscal Stability

Published by Samuel Ayomide on March 31st, 2026.

President Bola Tinubu has formally approached the Senate for approval to revise the 2026 Appropriation Bill, proposing an upward adjustment of ₦9 trillion that would raise the total budget size to ₦67.4 trillion.

The request, contained in a letter read on the Senate floor by Senate President Godswill Akpabio during Tuesday’s plenary, signals a significant recalibration of the government’s fiscal plan for the coming year, as first reported by Channels Television.

According to the President, the proposed increase is aimed at strengthening transparency in public finance while ensuring that key national programmes are adequately funded. The adjustment, he explained, is also designed to accommodate lingering financial obligations inherited from previous budgets, which could otherwise disrupt the execution of the 2026 fiscal framework.

In the communication, Tinubu outlined critical priorities behind the move, including the need to properly account for outstanding legal commitments carried over from earlier appropriation cycles. He also emphasised the importance of integrating existing government liabilities into a clearer fiscal structure, a step he believes will improve accountability and planning efficiency (The Guardian Nigeria).

Beyond addressing past obligations, the President noted that the revised budget would make room for a select number of strategic projects considered vital to economic growth and national development. He added that aligning the financing plan with current economic realities would help reduce pressure on the domestic financial market and support macroeconomic stability.

The development comes months after Tinubu presented the initial 2026 budget proposal—valued at just over ₦58 trillion—to the National Assembly in December. At the time, he described the spending plan as one grounded in “realism, prudence and growth orientation,” with a strong emphasis on security, infrastructure and economic resilience, according to reports by Vanguard.

The earlier proposal projected total revenue at ₦34.33 trillion against expenditure of ₦58.18 trillion, leaving a deficit of ₦23.85 trillion, or 4.28 per cent of GDP. Key assumptions underpinning the framework included a crude oil benchmark of $64.85 per barrel, daily production of 1.84 million barrels, and an exchange rate of ₦1,400 to the dollar.

Tinubu had argued that the figures reflect more than fiscal projections, describing them as a roadmap for national priorities. “They are a statement of commitment to sustainable spending, transparency and value for money,” he said at the time.

With the latest proposal now before lawmakers, attention is expected to shift to the National Assembly, where debates over the size, structure and implications of the revised budget are likely to intensify in the coming weeks.