Senate eyes March 17 for passage of N58.47tn 2026 budget

The Nigerian Senate has set March 17, 2026, as the target date for the passage of the N58.47 trillion 2026 federal budget.

The timeline was announced following intensive scrutiny and public hearings conducted by various Senate committees on the appropriation bill presented by President Bola Tinubu.

The March 17 deadline indicates the upper legislative chamber’s commitment to expediting the budget process while ensuring thorough examination of the proposed expenditures across all sectors.

The N58.47 trillion budget represents one of the largest appropriation bills in Nigeria’s history, reflecting the government’s ambitious plans for infrastructure development, security, education, healthcare, and other critical sectors.

Senate committees have been holding public hearings with ministries, departments, and agencies (MDAs) to review their budget proposals, assess performance on previous allocations, and ensure accountability in public spending.

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The target passage date suggests that lawmakers are working to avoid the delays that have often characterized budget cycles in previous years, which typically result in late implementation and disruptions to government projects.

Early passage of the budget would allow MDAs to commence implementation from the beginning of the fiscal year, potentially improving project delivery and economic planning.

The Senate’s approach indicates a more structured legislative process, with clear timelines aimed at enhancing efficiency and ensuring that Nigeria’s appropriation cycle aligns with international best practices.

Once passed by the Senate, the budget will need to be harmonized with the version from the House of Representatives before being sent to President Tinubu for assent.

Stakeholders and economic analysts will be watching closely to see if the March 17 target is met, as timely budget passage is crucial for economic stability and development planning.