The Chairman of the Senate Committee on Appropriation, Senator Olamilekan Adeola Solomon, has provided clarifications on the rationale behind the ₦9 trillion increase in the 2026 Appropriation Bill, bringing the total budget to ₦68.323 trillion.

Speaking on the floor of the National Assembly and during interactions with journalists, Adeola explained that the adjustment was made after the Executive formally requested additional provisions to address emerging national priorities and funding gaps in critical sectors.

According to him, the President initially presented a ₦58.4 trillion budget to the National Assembly in December 2025. However, following joint deliberations by both chambers of the legislature, lawmakers approved an increase of about ₦9 trillion after carefully reviewing requests submitted by the Executive.

Adeola emphasized that the process was transparent and followed due legislative procedure, noting that all additions were backed by formal correspondence from the Executive and subjected to scrutiny by the Senate and House of Representatives.

He explained that the revised budget aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, describing it as a “Budget of Consolidation” aimed at sustaining ongoing reforms and strengthening the nation’s economic recovery efforts.

Addressing concerns about the size of the increase, Adeola said the National Assembly was aware of public scrutiny and ensured that every component of the additional expenditure was justified. He added that the legislature acted responsibly to prevent any disruption to government operations.

One of the major components of the adjustment, according to Adeola, is the allocation for key national projects, including a ₦456 billion provision for a strategic infrastructure initiative designed to promote equitable development across different regions of the country.

He also highlighted the inclusion of counterpart funding obligations in the health sector, amounting to about ₦482 billion. This funding, he explained, is tied to an international agreement requiring Nigeria to meet its financial commitments over the next few years to support healthcare delivery and partnerships with global stakeholders.

In addition, Adeola pointed to increased funding for the judiciary, with about ₦403 billion allocated to address challenges such as the growing number of cases and the need for more judicial personnel. He said the funding was necessary to enhance the efficiency of the courts, particularly the Court of Appeal.

Another key factor behind the increase, he noted, is the need to sustain ongoing projects and prevent disruptions as the current budget cycle draws to a close. He explained that delays in budget implementation had created a funding gap that needed to be addressed to avoid a lapse in government activities.

To this end, about ₦5.71 trillion was included to support the continuity of existing projects, while an additional ₦2 trillion was allocated to cover legacy projects inherited from previous administrations. Adeola said these provisions would ensure that critical infrastructure projects remain uninterrupted and are completed as planned.

He also referenced allocations for feasibility studies and other preparatory works, including about ₦8.69 billion for the proposed super highway project, which is part of broader efforts to expand Nigeria’s infrastructure base.

On the issue of funding, Adeola explained that the ₦9 trillion increase was financed through a combination of higher revenue benchmarks, independent revenue generation, and borrowing.

He stated that the oil benchmark was increased from $65 to $75 per barrel, generating an additional estimated ₦2.5 trillion in revenue.

He also highlighted contributions from agencies such as the Nigerian Communications Commission (NCC), noting that the telecommunications sector is expected to contribute significantly to government revenue through taxes and investment inflows.

Adeola added that the administration has also relied on independent revenue sources, with projections indicating substantial contributions from major telecom operators such as MTN and Airtel.

However, he acknowledged that borrowing remains part of the financing strategy. He explained that part of the budget is funded through loans, but maintained that borrowing is a common practice among nations and is necessary to support development.

Responding to concerns about Nigeria’s rising debt profile, Adeola said that the government is committed to meeting its debt obligations as they fall due. He noted that Nigeria currently services a significant amount of debt monthly, much of which was accumulated by previous administrations.

According to him, consistent debt servicing is essential for maintaining Nigeria’s global financial reputation and ensuring continued access to international credit markets.

He also defended the use of borrowed funds, stating that they are being directed toward infrastructure and development projects. He cited ongoing road constructions and other major projects as evidence of visible progress across the country.

Adeola urged Nigerians and the media to focus not only on the issue of borrowing but also on how the funds are utilized. He argued that the impact of government spending should be the primary concern, especially in terms of infrastructure delivery and economic growth.

He further expressed optimism about Nigeria’s economic outlook, noting that recent reforms by the current administration are beginning to yield positive results. According to him, improvements in macroeconomic indicators and increased investor confidence are signs that the economy is stabilizing.

Adeola also highlighted the administration’s efforts to attract foreign investment, citing recent international engagements where commitments worth billions were secured to support infrastructure development and other key sectors.

He concluded by affirming that the National Assembly will continue to work closely with the Executive to ensure effective implementation of the 2026 budget. According to him, the collaboration between both arms of government is crucial for achieving the country’s development goals and restoring economic stability.

Adeola expressed confidence that with sustained reforms and prudent management of resources, Nigeria would continue on a path of growth and gradually reclaim its position as a leading economy in Africa.