President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion, while also extending the implementation of the 2025 budget to June 30, 2026.
According to a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, the newly signed budget outlines ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing. Recurrent (non-debt) expenditure is set at ₦15.4 trillion, while ₦32.2 trillion has been allocated to the Development Fund for capital projects.
The statement noted that capital expenditure makes up about 50 percent of the total budget, reflecting the administration’s focus on infrastructure development, economic stability, national security, and inclusive growth.
It added that the budget framework seeks to balance statutory obligations, debt commitments, and operational costs, while prioritising investments that can boost productivity and improve living standards.
In addition, President Tinubu assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the capital component of the 2025 budget from March 31 to June 30, 2026. The extension is intended to allow Ministries, Departments, and Agencies (MDAs) to complete ongoing projects and ensure optimal use of allocated funds, particularly for key infrastructure initiatives nearing completion.
With the 2026 Appropriation Act taking effect from April 1, the Federal Government is set to begin full implementation in line with its Renewed Hope Agenda.
President Tinubu also directed MDAs to ensure transparency, discipline, and efficiency in the use of public funds, emphasising value for money and timely project execution.
He commended the National Assembly for its swift consideration and passage of the budget, and reaffirmed the need for continued collaboration between the executive and legislative arms of government to drive national development.
The President further assured Nigerians of his administration’s commitment to fiscal reforms, improved revenue generation, job creation, and strengthened social protection programmes.
