The Nigerian Senate has projected a staggering N100 trillion aggregate expenditure for the 2026 fiscal year. This ambitious figure was revealed by Senator Solomon Ademola, Chairman of the Senate Committee on Appropriation, during a stakeholders’ interactive session on the 2025 Appropriation Bill.
This revelation and projection towards the 2026 budget underscores the government’s ambitious plans for economic growth while acknowledging the significant hurdles in revenue generation.
Ademola highlighted the ongoing efforts to free up government revenue currently held by organizations like the Nigerian National Petroleum Corporation (NNPCL).
He emphasized, “A lot of revenue has been held hostage by no other person than organizations like the NNPCL who still believe that there are still some elements of subsidy that are being treated as an operational expense in their documents.”
The Senator acknowledged the current challenges in meeting budgetary targets, stating, “We found out that we projected revenue of certain amounts and at the end of the day we can’t meet the target. To bridge the gap, we have to go and borrow. So it will add more to the deficit you are seeing.”
However, Ademola expressed optimism about the future, stating, “By next year when we are gathered here, we will start having a budget of a minimum of about 100 trillion naira.”
This projection, while ambitious, reflects the government’s determination to address critical infrastructure needs and stimulate economic growth.
Senate President Godswill Akpabio emphasized the importance of making the 2025 budget a “living document” that prioritizes the welfare of Nigerians. He urged all stakeholders to collaborate and ensure that every naira spent is invested wisely in the nation’s prosperity.
“This is not an ordinary assembly, and this is not an ordinary moment,” Akpabio declared. “For we are not gathered here merely as legislators, public servants, or citizens, but as custodians of Nigeria’s destiny, stewards of its promise, and architects of its future.”
The 2026 budget projection underscores the significant economic challenges facing Nigeria. While the government aims for ambitious growth, addressing revenue constraints and ensuring efficient resource allocation will be crucial to achieving these goals.
