President Bola Ahmed Tinubu has signed the 2026 Appropriation Bill into law, approving a total expenditure of ₦68.32 trillion, while also extending the implementation of the 2025 budget to June 30, 2026.
The presidency disclosed this in a statement issued Friday by the Special Adviser on Information and Strategy, Bayo Onanuga, confirming both the new fiscal plan and the extension of the previous budget cycle.
According to the statement, “President Bola Ahmed Tinubu has assented to the 2026 Appropriation Bill, which provides for an aggregate expenditure of ₦68.32 trillion. He has also signed the bill extending the implementation period for the 2025 budget from March 31, 2026, to June 30, 2026.”
A breakdown of the 2026 budget shows ₦4.799 trillion allocated for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent expenditure, and ₦32.2 trillion earmarked for capital projects through the Development Fund.
Highlighting the structure of the budget, the presidency noted: “With capital expenditure accounting for about 50 per cent, the 2026 budget underscores the administration’s continued commitment to economic stability, national security, infrastructure development, and inclusive growth.”
It added that, “The allocations reflect a strategic balance between statutory obligations, debt servicing, recurrent expenditure, and capital investments critical to driving productivity and improving the quality of life for Nigerians.”
The Appropriation Act took effect from April 1, 2026, with full implementation already underway in line with the administration’s policy direction.
In a related move, Tinubu also signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the capital component of the 2025 budget by three months to allow for the completion of ongoing projects.
Explaining the rationale, the presidency stated: “The extension will ensure the full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects that are at advanced stages of implementation across the country.
“It will enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure.”
The President directed all MDAs to ensure prudent and transparent use of funds, with a focus on efficiency and timely delivery of projects.
He also commended the National Assembly for its role in passing the budget, describing lawmakers’ efforts as marked by “diligence, cooperation, and patriotism in expeditiously considering and passing the budget.”
Reaffirming his administration’s fiscal direction, Tinubu assured Nigerians of sustained reforms aimed at boosting revenue and driving economic growth.
“He further assured Nigerians of his administration’s resolve to deepen fiscal reforms, enhance revenue generation, and prioritise investments that will stimulate economic growth, create jobs, and strengthen social protection mechanisms,” the statement added.
