An analysis of the proposed 2026 budget by Punch reveals that no fewer than ₦3.50 trillion in new projects have been introduced, despite explicit directives to Ministries, Departments and Agencies to roll over 70 per cent of their 2025 capital allocations and avoid new projects.
Figures extracted from the 2026 Appropriation Bill indicate that new project entries across MDAs alone amount to ₦844.49bn. When Service-Wide Votes are included, the total value of new projects rises sharply to ₦3.50tn.
Against the proposed capital expenditure of ₦23.21tn for 2026, the ₦3.50tn provision for new projects represents 15.09 per cent of total capital spending.
In December 2025, the Federal Government had directed MDAs to carry over 70 per cent of their 2025 capital budget into the 2026 fiscal year as part of efforts to prioritise completion of ongoing projects amid weak revenue performance.
The directive was contained in the 2026 Abridged Budget Call Circular issued by the Federal Ministry of Budget and Economic Planning and circulated to ministers, service chiefs and heads of agencies.
According to the circular, “MDAs are to upload 70 per cent of their 2025 FGN Budget to continue in FY2026, rather than seeking fresh projects,” adding that all spending would be subjected to scrutiny to ensure value for money.
Contrary to the guideline, Punch observed that at least 82 MDAs have one or more new capital or programme items in the 2026 budget.
Across these MDAs, more than 400 fresh project lines were introduced, ranging from multibillion-naira infrastructure and health projects to smaller constituency-based interventions such as boreholes, training schemes and equipment supply.
Service-Wide Votes Dominate New Allocations
A breakdown shows that Service-Wide Votes account for ₦2.66tn of the ₦3.50tn new projects, indicating that the largest allocations sit outside conventional ministerial capital lines.
The biggest single entry is ₦1.70tn for outstanding contractors’ liabilities from 2024. This alone represents about 48.55 per cent of the total new projects, including Service-Wide Votes.
Other notable Service-Wide Vote items include three N100bn allocations for the Nigeria Development Finance Corporation, the Economic Transformation Finance Programme and the Nigeria Growth Investment Fund, totalling N300bn.
Additional provisions include ₦20bn for INFRACO capitalisation, N30bn for a DSS special operations fund, and ₦110.31bn for the Nigerian Air Force to settle obligations on T-129 ATAK and Mi-35 helicopters.
The budget also earmarks ₦283.85bn for presidential air fleet logistics and management, including the operation of the National Forest Guard.
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