Senate Threatens to Slash N58.47tn 2026 Budget
Senate on Thursday threatened to reduce the proposed N58.472 trillion 2026 Appropriation Bill over what it described as unrealistic revenue projections, poor oil performance benchmarks, and persistent failures in capital budget implementation.
The warning came during a tense interactive session between Senate Committee on Appropriations and the federal government’s economic team, where lawmakers openly questioned the credibility of key assumptions underpinning the record budget proposal.
Chairman, Senate Committee on Appropriations, Senator Solomon Adeola (Ogun West), questioning the credibility of key assumptions underpinning the federal governments 2026 budget proposal, said budget document originated from the executive and must reflect realistic and implementable projections.
He warned that with Nigeria’s debt stock hovering around N152 trillion and debt servicing costs consuming a significant portion of revenue, the legislature would not rubber-stamp projections that could worsen fiscal pressures.
