The Nigerian government has announced an increase in its 2026 budget, originally estimated at around $42 billion, now raised to $49.4 billion, representing an 18% increase, according to official sources and economic media reports.

The revision was approved by the Parliament following a request from President Bola Tinubu, who emphasized the need to finance pending projects and fulfill certain commitments from previous budget cycles.

The 2026 budget aims to support investments in infrastructure, particularly in the transport sector, as well as other programs considered priorities for the country’s economic development.

Authorities stated that the increase is intended to address previously unmet needs and facilitate the implementation of projects deemed strategic for Nigeria’s growth.

The government reiterated its commitment to transparency and effective management of public funds, while following parliamentary procedures for budget approval and monitoring.