President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion for the fiscal year, while also extending the implementation period of the 2025 capital budget to June 30, 2026.
The approval was disclosed in a statement issued on Friday by the Special Adviser on Information and Strategy, Bayo Onanuga. According to the presidency, the newly signed budget provides ₦4.799 trillion for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent expenditure, and ₦32.2 trillion for capital projects under the Development Fund.
The administration noted that capital expenditure accounts for roughly half of the total budget, reflecting a focus on infrastructure development, national security, and inclusive economic growth. It added that the allocations strike a balance between meeting statutory obligations, servicing debt, and investing in projects aimed at boosting productivity and improving living standards.
The 2026 Appropriation Act took effect from April 1, with full implementation already underway in line with the government’s Renewed Hope Agenda.
In a related move, Tinubu also assented to an amendment bill extending the capital component of the 2025 budget from March 31 to June 30, 2026. The presidency said the extension is designed to ensure the completion of ongoing infrastructure and development projects that are already at advanced stages.
It explained that the additional time would allow Ministries, Departments, and Agencies (MDAs) to consolidate ongoing work, improve project delivery rates, and maximise value for public spending.
The President directed all MDAs to ensure transparency, discipline, and efficiency in the use of allocated funds, with a strong emphasis on timely execution and value for money. He also reiterated his administration’s commitment to fiscal reforms, revenue mobilisation, and investments that will stimulate economic growth, create jobs, and strengthen social protection.
Originally presented to the National Assembly in December 2025 at ₦58.47 trillion, the budget was later revised upward to ₦68.32 trillion following legislative deliberations before receiving presidential assent.
Tagged “Budget of Consolidation, Renewed Resilience and Shared Prosperity,” the fiscal plan is anchored on key priorities including macroeconomic stability, improving the investment climate, driving job creation, and enhancing human capital development while protecting vulnerable citizens.
Key sectoral allocations include ₦5.41 trillion for defence and security, ₦3.56 trillion for infrastructure, ₦3.52 trillion for education, and ₦2.48 trillion for healthcare, underscoring the government’s focus on both economic and social development.
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