The National Assembly has reaffirmed its commitment to the timely passage of the 2026 Appropriation Bill, with the Senate Committee on Appropriations fixing March 17, 2026, as the target date for final consideration and passage of the N58.47 trillion budget. This was disclosed by Senator Patrick Ndubueze, who represents Imo North Senatorial District and is a member of the Appropriations Committee.
Senator Ndubueze made the disclosure on Friday after a crucial meeting of the committee, explaining that the decision followed extensive deliberations and consultations aimed at ensuring a comprehensive, transparent and efficient review of the budget proposal submitted by the executive to the National Assembly.
According to him, the committee has adopted a detailed and structured timetable to guide the budget review process, beginning with the defence of budget estimates by Ministries, Departments and Agencies (MDAs). He said the MDA defence sessions are scheduled to commence on February 2 and run through February 13, 2026.
“The committee has carefully drawn up a timetable that will allow us to thoroughly interrogate the budget estimates of all MDAs,” Ndubueze said. “This process is critical to ensuring that public funds are allocated efficiently and in line with national development priorities.”
As part of efforts to deepen transparency and public participation in the budget process, the senator revealed that a public hearing on the 2026 Appropriation Bill has been fixed for Monday, February 9, 2026. He explained that the hearing will provide an opportunity for relevant stakeholders, including civil society organisations, professional bodies, private sector representatives and members of the general public, to make inputs into the budget.
“The public hearing is an important component of our legislative responsibilities,” Ndubueze noted. “It allows Nigerians to engage directly with the budget process and make contributions that can help improve the quality and impact of the final document.”
He further disclosed that the committee will hold an interactive session with key members of the Federal Government’s economic management team on March 5, 2026. According to him, the session is designed to provide lawmakers with deeper insights into the macroeconomic assumptions and policy direction underpinning the 2026 budget.
Those expected to attend the interactive session include the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, and the Minister of Budget and National Planning, Senator Atiku Bagudu. Senator Ndubueze said the engagement would enable legislators to ask critical questions and seek clarifications on issues relating to revenue projections, debt sustainability and expenditure priorities.
The senator disclosed that the proposed 2026 budget stands at N58.472 trillion and is anchored on key macroeconomic parameters. These include an oil price benchmark of $64.85 per barrel, daily oil production of 1.84 million barrels, and an exchange rate of N1,400 to the United States dollar.
He explained that these assumptions reflect the government’s assessment of prevailing global and domestic economic conditions, adding that the committee would scrutinise them to ensure they are realistic and achievable.
“The macroeconomic framework of the budget is very important,” Ndubueze said. “We must be sure that the assumptions are credible, because they form the foundation upon which revenue projections and expenditure plans are built.”
Senator Ndubueze also noted that the House of Representatives has already passed the 2026 Appropriation Bill for second reading, following its presentation to the National Assembly in late 2025. He described this development as a positive sign that the legislative process is progressing smoothly and in line with the agreed timetable.
According to him, the early progress made by the House would help to facilitate harmonisation between both chambers of the National Assembly and reduce delays in the overall budget cycle.
Reaffirming the commitment of the legislature, Ndubueze said the Senate Committee on Appropriations, under the chairmanship of Senator Solomon Adeola, is determined to conduct a rigorous and detailed review of the budget proposal. He stressed that the committee’s focus would be on promoting fiscal discipline, ensuring value for money and aligning government spending with national development goals.
“Our responsibility is to the Nigerian people,” he said. “We are committed to ensuring that the 2026 budget is carefully examined, properly structured and passed in good time to support effective implementation.”
He added that timely passage of the budget remains a key priority of the National Assembly, noting that delays in budget approval often disrupt project execution and service delivery. By adhering to the outlined timetable, he said, the legislature aims to support economic stability, planning certainty and improved governance.
As the budget defence process begins in early February, expectations are high that the 2026 Appropriation Bill will undergo robust scrutiny, reflecting the legislature’s resolve to play its constitutional role in safeguarding public resources and advancing national development.
