President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill, approving a total expenditure of N68.32 trillion for the fiscal year.
The president also assented to an amendment extending the implementation of the capital component of the 2025 budget from March 31, 2026, to June 30, 2026.
This was disclosed in a statement issued on Friday by his Senior Special Assistant on Information and Strategy, Bayo Onanuga.
According to the statement, the 2026 budget allocates N4.799 trillion for statutory transfers and N15.8 trillion for debt servicing. Recurrent expenditure is projected at N15.4 trillion, while N32.2 trillion has been set aside for capital projects under the Development Fund.
The administration noted that capital expenditure accounts for nearly 50 percent of the budget, reflecting a strong focus on infrastructure development, national security, economic stability, and inclusive growth.
It added that the spending framework balances statutory obligations, debt commitments, and investments aimed at boosting productivity and improving citizens’ welfare.
On the extension of the 2025 budget, the government said the move would allow for the effective utilization of funds, particularly for ongoing infrastructure and development projects nearing completion nationwide.
The extension is also expected to enable Ministries, Departments, and Agencies (MDAs) to consolidate projects, improve completion rates, and ensure value for public spending.
With the 2026 budget taking effect from April 1, the federal government is set to begin full implementation in line with its Renewed Hope Agenda.
President Tinubu directed MDAs to ensure prudent, transparent, and efficient use of funds, stressing the need for accountability and timely project delivery.
He also commended the National Assembly for its swift consideration and passage of the budget, reaffirming the importance of continued cooperation between the executive and legislative arms of government.
The President further assured Nigerians of his administration’s commitment to deepening fiscal reforms, boosting revenue generation, and prioritizing investments that will drive economic growth, job creation, and enhanced social protection.
