The House of Representatives has passed the second reading of a proposed ₦58.47 trillion budget for 2026 fiscal year, designed to consolidate macroeconomic stability, strengthen national security and expand capital investment. President Bola Tinubu had formally presented the 2026 budget to a joint session of the National Assembly on 19 December 2025. Of the total expenditure envelope, ₦4.09 trillion is allocated to statutory transfers, ₦15.91 trillion to debt servicing, and ₦15.25 trillion to recurrent (non-debt) expenditure. Outlining the fiscal framework, he said the 2026 budget projects total revenue of ₦34.33 trillion against total expenditure of ₦58.18 trillion, leaving a deficit of ₦23.85 trillion. The House thereafter adjourned plenary for two weeks to allow ministries, departments and agencies to commence budget defence sessions.