President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill totaling ₦68.32 trillion, while also approving an extension of the 2025 budget implementation period to June 30, 2026.
The newly assented budget outlines key allocations, including ₦4.799 trillion for statutory transfers and ₦15.8 trillion dedicated to debt servicing. Recurrent (non-debt) expenditure is set at ₦15.4 trillion, while ₦32.2 trillion has been earmarked for capital expenditure under the Development Fund.
According to the State House, capital spending accounts for about 50 percent of the total budget, reflecting the administration’s focus on infrastructure development, economic stability, national security, and inclusive growth.
In addition, President Tinubu approved the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the lifespan of the capital component of the 2025 budget from March 31 to June 30, 2026. The extension is aimed at ensuring the completion of ongoing infrastructure and development projects across Ministries, Departments, and Agencies (MDAs).
The presidency noted that the extension would allow MDAs to consolidate ongoing works, improve project delivery timelines, and maximise the impact of public spending.
With the 2026 budget taking effect from April 1, the Federal Government is expected to begin full implementation in line with the administration’s Renewed Hope Agenda.
President Tinubu also directed all MDAs to ensure transparency, discipline, and efficiency in the utilisation of public funds, stressing the need for value for money and timely execution of projects.
He commended the National Assembly for its swift passage of the budget and reaffirmed his administration’s commitment to strengthening cooperation between the executive and legislative arms of government.
The President further assured Nigerians of continued fiscal reforms, improved revenue generation, and strategic investments aimed at boosting economic growth, creating jobs, and enhancing social protection nationwide.
