Lawmakers approve ₦2.2 trillion Abuja budget for 2026, sending it to the next stage of consideration

The Nigerian House of Representatives gave its nod to a bill on Thursday, allowing for the withdrawal of over ₦2.2 trillion from the Federal Capital Territory Administration's Statutory Revenue Fund for the 2026 financial year.

This development came as the House passed the bill for second reading, with the proposed legislation seeking to authorise the withdrawal of a substantial amount from the Statutory Revenue Fund.

The bill in question is titled “A Bill for an Act to Authorise the Issue from the Federal Capital Territory Administration’s Statutory Revenue Fund the Total Sum of ₦2,201,098,676,153 for the Service of the Federal Capital Territory, Abuja, for the Financial Year Commencing January 1 and Ending December 31, 2026 and for Related Matters (HB.2729)”, and it was sponsored by the Leader of the House, Julius Ihonvbere.

A closer examination of the proposed budget reveals that a significant amount, ₦165,775,220,839, has been set aside for personnel costs.

Furthermore, the budget allocates ₦378,231,411,697 for overhead expenses, which is a substantial portion of the overall budget.

The largest allocation, however, is ₦1,657,092,043,617, which is earmarked for capital projects, with a focus on developing infrastructure and enhancing service delivery within the Federal Capital Territory.

The primary objective of the bill is to secure legislative approval for the funds required to finance the operations and development programmes of the FCT Administration for the 2026 fiscal year.

After deliberating on the bill, the House decided to refer it to the relevant committee for further legislative action.