The Nigerian National Assembly on Friday passed the ₦28.7 trillion 2026 Appropriation Act after a marathon session that lasted into the early hours of the morning, endorsing a budget that is 18% larger than the previous year's and contains the highest-ever allocation for infrastructure development.

Capital expenditure stands at ₦8.2 trillion, with roads and bridges receiving ₦2.1 trillion, power sector investment at ₦1.8 trillion, and rail infrastructure at ₦1.4 trillion. The digital economy ministry received a 240% increase in its capital budget, reflecting the government's emphasis on technology-led growth.

Revenue assumptions

The budget is premised on an oil price benchmark of $77.96 per barrel, a production estimate of 2.06 million barrels per day, and an exchange rate of ₦1,400 to the dollar. Economists have described these assumptions as "moderately optimistic" given current production constraints.

Non-oil revenue targets have been set at ₦4.9 trillion, compared to actual collections of ₦3.1 trillion in 2025 — a gap that the Finance Minister attributed to the expected impact of the new Tax Reform Act.