Fresh borrowings are imminent as Nigeria’s 2026 budget projects a massive N25.27 trillion deficit, the Senate has disclosed, raising concerns among lawmakers and fiscal experts over rising public debt and weak revenue mobilisation.

Chairman of the Senate Committee on Appropriations, Senator Solomon Adeola, revealed this on Tuesday during the public hearing on the 2026 Appropriation Bill at the National Assembly, Abuja.

According to Adeola, the proposed 2026 budget estimates total expenditure of N58.47 trillion against projected revenue of N33.19 trillion, leaving a deficit of N25.27 trillion to be financed largely through borrowing.

“The reality before us is that Nigeria will continue to borrow to fund its budget deficit unless revenue performance improves significantly,” Adeola said.

He added that the Senate would intensify scrutiny of service-wide vote spending and ensure that no component of the budget extends beyond December of any fiscal year, in a bid to strengthen fiscal discipline and budget implementation.

The disclosure comes amid concerns over poor budget performance by Ministries, Departments and Agencies (MDAs), allegedly due to non-release of appropriated funds.

At the hearing, the Minister of Health, Prof. Mohammed Ali Pate, lamented that the Federal Ministry of Health received only N36 million out of the N218 billion appropriated for its 2025 capital expenditure, severely limiting project execution.

The session attracted top government officials, including the Minister of State for Finance, the Accountant-General of the Federation, lawmakers, and economic experts, many of whom warned that continued borrowing without aggressive revenue reforms could push the country into deeper fiscal distress.

Experts at the hearing stressed the need to broaden the tax base, plug revenue leakages, and improve efficiency in public spending to reduce Nigeria’s growing reliance on debt financing.