President Ahmed Tinubu has asked the House of Representatives to approve major adjustments to the 2026 budget, citing the need to clear outstanding obligations and fund key national projects.In a formal communication to the Speaker of the House, Tajudeen Abbas, Tinubu said the proposed changes aim to address unpaid capital commitments from previous budgets, introduce new strategic projects, and maintain fiscal stability.The request includes the regularization of about 5.71 trillion naira in outstanding capital obligations carried over from the 2025 budget cycle. Officials said the move is necessary to prevent unresolved projects from burdening the 2026 fiscal plan.In addition, the government is seeking approval for roughly 2 trillion naira in new capital spending for priority projects across multiple sectors that were not captured in the current budget.The proposal also outlines targeted interventions, including 478.6 billion naira in federal equity funding for legacy light rail projects in Lagos, Kano, Kaduna and Ogun states, as well as feasibility studies for new rail systems in Enugu and Maiduguri.Further allocations include about 482.76 billion naira for health sector interventions tied to international agreements, alongside funding for infrastructure studies under a national highway development initiative.The judiciary is also set to benefit, with proposed allocations of 98.5 billion naira for the Court of Appeal and 36.7 billion naira for the Supreme Court, aimed at strengthening judicial processes ahead of and after the next presidential election cycle.Overall, the government estimates the total adjustment to the 2026 budget at about 9.08 trillion naira, combining legacy obligations and new expenditures.To finance the changes, the President said they plan to rely on external funding sources to reduce pressure on domestic borrowing, protect private sector access to credit, and stabilize interest rates.Lawmakers have been asked to give the proposal expedited consideration to ensure smooth implementation of the 2026 fiscal programme.
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