President Bola Ahmed Tinubu has formally submitted a request to the House of Representatives seeking approval for major adjustments to the 2026 budget.
The letter, presented in plenary by Speaker Tajudeen Abbas, highlighted the need to settle outstanding obligations and fund critical national projects.
According to the President, the proposed changes are designed to address unpaid capital commitments from previous budgets, introduce strategic new projects, and safeguard fiscal stability.
The proposal includes the regularisation of roughly ₦5.71 trillion in outstanding capital obligations carried over from the 2025 budget cycle. Officials emphasised that this measure is essential to prevent unfinished projects from hampering the 2026 fiscal plan.
In addition, the government seeks approval for approximately ₦2 trillion in new capital spending for priority projects across multiple sectors that were not captured in the current budget.
Targeted interventions outlined in the adjustments include ₦478.6 billion in federal equity funding for legacy light rail projects in Lagos, Kano, Kaduna, and Ogun states, alongside feasibility studies for new rail networks in Enugu and Maiduguri.
Healthcare also stands to benefit, with ₦482.76 billion allocated for sector initiatives linked to international agreements, in addition to funds for infrastructure studies under the national highway development programme.
The judiciary is included in the adjustments, with proposed allocations of ₦98.5 billion for the Court of Appeal and ₦36.7 billion for the Supreme Court, aimed at strengthening judicial processes before and after the next presidential election cycle.
Overall, the total adjustments are projected at ₦9.08 trillion, combining legacy obligations with new capital expenditures.
President Tinubu indicated that the government plans to utilise external funding sources to reduce reliance on domestic borrowing, safeguard private sector credit access, and stabilise interest rates.
He urged lawmakers to consider the proposal urgently, ensuring smooth implementation of the 2026 fiscal programme.
