President Bola Ahmed Tinubu has formally requested Senate approval for a ₦9 trillion increase in the 2026 Appropriation Bill, raising the proposed budget from ₦58.4 trillion to ₦67.4 trillion.

The request was conveyed in a letter read on the Senate floor during plenary by Senate President Godswill Akpabio.

According to the President, the proposed upward review is aimed at enhancing fiscal transparency and ensuring more effective implementation of key national programmes. He explained that part of the additional funds would be used to settle outstanding legal commitments carried over from previous budgets, preventing them from disrupting the execution of the 2026 fiscal plan.

The proposal also includes measures to consolidate existing government debt within the fiscal framework, alongside provisions for a limited number of strategic and priority projects.

Tinubu noted that the revised financing plan is structured to maintain macroeconomic stability while reducing pressure on the domestic financial market.