Nigeria Approves Increased 49.38 Billion USD 2026 Budget

Lawmakers in Nigeria have officially approved a 68.30 trillion naira budget for the 2026 fiscal year. This final figure represents a significant increase from the initial 58.47 trillion naira proposal submitted by President Bola Tinubu in December. Based on current exchange rates for the US Dollar / Nigerian Naira, the approved spending plan is valued at approximately $49.38 billion.

The upward adjustment followed a specific request from President Tinubu to the National Assembly. The president previously stated that the fiscal plan was designed to consolidate ongoing economic reforms and accelerate national growth. The revised figures were confirmed by the chairs of the Senate and House of Representatives appropriation committees, Adeola Solomon Olamilekan and Abubakar Kabiru Bichi, in a joint statement.