President Bola Ahmed Tinubu has assented to the 2026 Appropriation Bill, providing for an aggregate expenditure of ₦68.32 trillion. He also signed a bill extending the implementation period of the 2025 budget from March 31, 2026, to June 30, 2026.
The ₦68.32 trillion budget earmarks ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing. It allocates ₦15.4 trillion to recurrent expenditure and ₦32.2 trillion to the Development Fund for capital projects.
With capital expenditure accounting for about 50 per cent, the 2026 budget underscores the administration’s commitment to economic stability, national security, infrastructure development, and inclusive growth.
The allocations reflect a strategic balance between statutory obligations, debt servicing, recurrent spending, and critical capital investments aimed at boosting productivity and improving Nigerians’ quality of life.
Additionally, the President assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the implementation of the capital component of the 2025 Appropriation Act from March 31, 2026, to June 30, 2026.
The extension is expected to ensure full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects at advanced stages nationwide.
It will also enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing works, improve project completion rates, and maximise value for public expenditure.
With the 2026 Appropriation Act taking effect from April 1, the Federal Government will commence full implementation in line with the Renewed Hope Agenda.
President Tinubu directed MDAs to ensure disciplined, transparent, and efficient use of resources, with a strong emphasis on value for money and timely project delivery.
He commended the leadership and members of the National Assembly for their diligence and cooperation in the swift passage of the budget, reaffirming the importance of sustained collaboration between the Executive and Legislative arms of government in advancing national development goals.
The President further assured Nigerians of his administration’s resolve to deepen fiscal reforms, boost revenue generation, and prioritise investments that will drive economic growth, create jobs, and strengthen social protection, according to a release on Friday by Bayo Onanuga, Tinubu’s Special Adviser on Information & Strategy.
