By SUNTV Global News
Nigeria’s Senate has mapped out a detailed legislative timetable for the consideration and passage of President Bola Tinubu’s ₦58.47 trillion 2026 Appropriation Bill, with March 17, 2026, pencilled in as the target date for final approval.
The Chairman of the Senate Committee on Appropriations, Senator Solomon Adeola, disclosed this on Friday after a special meeting of the committee. According to him, standing committees of the Senate will commence consideration of budget estimates from February 2 to February 13.
As part of efforts to ensure transparency and public participation, the Senate has scheduled a public hearing on the budget proposal for Monday, February 9. This will be followed by an interactive session between the Appropriations Committee and key economic managers of the Federal Government on Thursday, March 5.
Adeola said the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, alongside the Minister of Budget and National Planning, Atiku Bagudu, are expected to participate in the engagement, as reported by Channels TV.
He further revealed that between February 16 and February 23, chairmen of the various standing committees are expected to submit their reports on budget defence. These submissions will form the foundation of the Appropriations Committee’s final report, which is scheduled to be presented to the Senate on March 17.
The lawmaker explained that although Senate leadership initially pushed for the budget to be passed by March 12, he requested and secured an additional week to allow lawmakers carry out more thorough scrutiny of the spending proposals.
“To facilitate detailed examination, hard copies of the 2026 budget have been printed and distributed to chairmen and members of all standing committees,” Adeola said.
President Tinubu presented the 2026 Appropriation Bill to a joint session of the National Assembly in December 2025, describing it as a “Budget of Consolidation, Renewed Resilience and Shared Prosperity.” The proposal was initially put at ₦58.18 trillion.
The President proposed ₦26.08 trillion for capital expenditure, with a crude oil benchmark of $64.85 per barrel. Projected total revenue stands at ₦34.33 trillion, while debt servicing is estimated at ₦15.52 trillion.
According to Tinubu, the projected budget deficit of ₦23.85 trillion represents 4.28 per cent of Nigeria’s Gross Domestic Product (GDP). The budget is anchored on an oil production target of 1.84 million barrels per day and an exchange rate assumption of ₦1,400 to the US dollar.
A breakdown of sectoral allocations shows that defence will receive the highest allocation of ₦5.41 trillion, followed by infrastructure at ₦3.56 trillion, education at ₦3.52 trillion, and health at ₦2.48 trillion.
“We will invest in security with clear accountability for outcomes—because security spending must deliver security results,” the President said, emphasising plans to strengthen the armed forces and other security agencies through improved manpower and acquisition of modern equipment.
Lawmakers insist the timetable is designed to ensure a transparent, inclusive and rigorous budget process ahead of the final passage of the 2026 Appropriation Bill in March.
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