The Nigerian Senate has projected an aggregate expenditure of N100 trillion for the 2026 fiscal year as it continues deliberations on the N49.7 trillion 2025 Appropriation Bill. The announcement was made during a stakeholders’ session themed, The 2025 Budget of Restoration: Securing Peace, Rebuilding Prosperity.
Thank you for reading this post, don't forget to subscribe!Solomon Adeola, Chairman of the Senate Committee on Appropriation, emphasized the need to free federal revenues currently tied up by entities like the Nigerian National Petroleum Corporation Limited (NNPCL). He cited operational expenses, subsidies, and other inefficiencies as factors impeding revenue generation.
“In the past, we borrowed money to stabilize the Naira and maintain exchange rates. This administration, however, has moved to a free-market economy by eliminating subsidies, exchange rate differentials, and electricity tariffs,” Adeola explained. “With more revenue freed from these changes, we could see our budget double by next year.”
Adeola also expressed concern over the country’s reliance on borrowing to bridge revenue gaps, adding that addressing these inefficiencies would enable Nigeria to fund its budget more effectively.
Senate President Godswill Akpabio urged lawmakers and stakeholders to make the 2025 budget a “living document” that prioritizes the welfare of Nigerians. He stressed the importance of collaboration between the government, private sector, and citizens to create a resilient and inclusive economy.
Akpabio stated, “This budget must not merely balance revenue and expenditure but reflect the aspirations, struggles, and dreams of our people. It is a collective responsibility to ensure transparency, accountability, and faithful implementation.”
The Senate’s ambitious budget target aligns with broader efforts to meet fiscal goals while minimizing deficit spending and reducing dependency on external borrowing.
