The Nigerian Senate has outlined a detailed schedule for the consideration and passage of the 2026 Appropriation Bill, setting March 17, 2026, as the target date for its final approval. This timeline was announced by the Senate Committee on Appropriations following a special session, which also approved February 2 to 13 for committee-level budget defence.
Senator Solomon Olamilekan Adeola, Chairman of the Committee, disclosed that a public hearing on the budget proposal is scheduled for February 9. An interactive session with key economic managers, including Finance Minister Wale Edun and Budget Minister Atiku Bagudu, is set for March 5. Standing committee chairmen have until February 23 to submit their reports ahead of the Appropriations Committee’s presentation to the full Senate.
The schedule follows President Bola Tinubu’s presentation of a ₦58.18 trillion budget proposal to the National Assembly last month. Dubbed the “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” the proposal estimates total revenue at ₦34.33 trillion and projects a deficit of ₦23.85 trillion, or 4.28% of GDP. Key assumptions include a crude oil benchmark of $64.85 per barrel, production of 1.84 million barrels per day, and an exchange rate of ₦1,400 to the US dollar.
Capital expenditure is pegged at ₦26.08 trillion, with debt servicingallocating ₦15.52 trillion. A sectoral breakdown shows defence receiving the largest allocation at ₦5.41 trillion, followed by infrastructure at ₦3.56 trillion, education at ₦3.52 trillion, and health at ₦2.48 trillion. President Tinubu emphasized that security spending would be tied to accountability and aimed at enhancing the capabilities of the armed forces.
Senator Adeola noted that while Senate leadership initially aimed for passage by March 12, he secured an additional week to facilitate more rigorous scrutiny. To support this process, hard copies of the budget have been distributed to all standing committee chairmen and members.
The Senate’s timetable now guides the legislative process for transforming the executive’s proposal into law. The public hearing and committee defences are standard steps for legislative review, allowing for inputs from ministries, departments, agencies, and the public before the final vote. The passage of the 2026 Appropriation Act will formalize the government’s fiscal plans, directing public spending in line with the administration’s stated priorities of economic consolidation and shared prosperity.
