Budget Scales Second Reading Without Floor Debate
The House of Representatives on Thursday passed President Bola Tinubu’s ₦58.4 trillion 2026 appropriation bill through second reading without any debate by lawmakers.
The plenary, presided over by Speaker Tajudeen Abbas, followed a closed-door meeting that lasted nearly one hour before the bill was brought back to the chamber.
House Leader Makes Sole Contribution
Only the House Leader, Prof Julius Ihonvbere, addressed the chamber before the bill was put to a voice vote.
Ihonvbere said the budget, tagged Budget of Consolidation, Renewed Resilience and Shared Prosperity, was designed to consolidate macroeconomic stability, improve revenue performance, strengthen human capital development and manage existing debts.
He told lawmakers that Nigeria’s economy recorded growth of 3.98 per cent before the budget presentation, adding that inflation had declined, exports expanded and foreign investment inflows improved.
Claims of Fiscal Stability
According to the House Leader, the administration has not printed “a single naira” since assuming office, a move he said contributed to economic stability. He also stated that Nigeria’s external reserves had risen to a seven-year high of about $47 billion.
Urging lawmakers to support the proposal, Ihonvbere described the budget as an opportunity for the legislature to work with the executive to deliver sustainable development and shared prosperity.
Bill Advances to Committee Stage
After the House Leader’s remarks, the Speaker invited contributions from the floor, but no lawmaker indicated interest to speak. The bill was subsequently put to a voice vote, with the “ayes” prevailing.
The ₦58.4 trillion 2026 budget was thereafter referred to the Appropriation Committee for further legislative work, while the House adjourned plenary for two weeks to allow standing committees examine relevant sections of the proposal.
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