The Nigerian Senate has officially set 17 March 2026 as the target date for the passage of the 2026 federal budget, marking a critical milestone in the nation’s fiscal planning for the year. The announcement was made during plenary on 5 February 2026 by Senate President Godswill Akpabio, who highlighted the urgency of adhering to the timeline to ensure that government agencies and ministries receive timely appropriations for operational and capital expenditures. According to the Senate leadership, completing the budget process on schedule is essential to sustaining economic growth, funding social programs, and maintaining public confidence in government financial management.
The 2026 budget proposal was submitted by President Bola Ahmed Tinubu on 28 January 2026, following months of preparation by the Ministry of Finance and the Budget Office. The proposal includes projected revenue of approximately 25 trillion naira, with allocations covering critical sectors such as education, healthcare, infrastructure, security, and agriculture. The budget also includes provisions for new projects aimed at supporting industrialization, digital innovation, and social welfare programs targeted at vulnerable populations.
The Senate Appropriations Committee, chaired by Senator Barau Jibrin, began an intensive review of the estimates on 1 February 2026. The committee has conducted a series of hearings involving stakeholders from various ministries, departments, and agencies, as well as representatives from civil society organizations, think tanks, and economic analysts. The hearings, held in Abuja and virtually across several states, focused on examining the feasibility of revenue projections, the efficiency of proposed expenditures, and alignment with national development priorities.
Follow-up committee meetings have been scheduled for 12, 18, and 24 February 2026, during which senators are expected to scrutinize sectoral allocations, raise questions on budget implementation, and propose amendments. Plenary debates on the budget are slated to begin in the first week of March, allowing for full discussion, negotiation, and eventual approval ahead of the 17 March 2026 deadline. Senate leadership has stressed that this timeline is non-negotiable, noting that delays could disrupt the implementation of government programs and delay disbursement of funds to state and local governments.
Economic experts have highlighted that timely approval of the budget is critical for maintaining investor confidence, ensuring continuity of federal projects, and supporting monetary and fiscal policy objectives. Analysts from the Nigerian Economic Summit Group noted on 6 February 2026 that delays in past budget approvals have contributed to project cancellations, cash flow challenges, and bottlenecks in public service delivery. They urged lawmakers to prioritize transparency and accountability during deliberations to ensure that allocations reflect actual needs and promote sustainable economic development.
