President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill, approving an aggregate expenditure of ₦68.32 trillion, while also assenting to an extension of the 2025 budget implementation period to June 30, 2026.
According to a statement issued on Friday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, the ₦68.32 trillion budget earmarks ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing.
The statement noted that ₦15.4 trillion was allocated for recurrent expenditure, while ₦32.2 trillion was set aside under the Development Fund for capital expenditure.
It added that with capital expenditure accounting for about 50 per cent of the total budget, the 2026 fiscal plan reflects the administration’s commitment to economic stability, national security, infrastructure development and inclusive growth.
The presidency said the allocations were structured to maintain a strategic balance between statutory obligations, debt servicing, recurrent spending and capital investments aimed at boosting productivity and improving living standards.
President Tinubu also signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the implementation period of the capital component of the 2025 Appropriation Act from March 31, 2026, to June 30, 2026.
According to the statement, the extension is expected to ensure full utilisation of approved funds, especially for critical infrastructure and development projects already at advanced stages nationwide.
It explained that the additional period would allow Ministries, Departments and Agencies (MDAs) to consolidate ongoing projects, improve completion rates and enhance value for public expenditure.
The statement further disclosed that the 2026 Appropriation Act took effect from April 1, with the Federal Government set to commence full implementation in line with the administration’s Renewed Hope Agenda.
President Tinubu directed all MDAs to ensure disciplined, transparent and efficient use of public funds, stressing the need for value for money and timely execution of projects.
He commended the leadership and members of the National Assembly for their diligence and cooperation in the timely consideration and passage of the budget.
The President also reaffirmed the importance of sustained collaboration between the executive and legislative arms of government in advancing national development goals.
He assured Nigerians of his administration’s commitment to strengthening fiscal reforms, boosting revenue generation and prioritising investments that would stimulate economic growth, create jobs and expand social protection programmes.
