President Bola Tinubu has signed into law the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion, while also extending the lifespan of the 2025 budget.
The newly signed budget sets aside ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing.
Recurrent expenditure is projected at ₦15.4 trillion, while a significant ₦32.2 trillion has been earmarked for capital projects under the Development Fund.
With nearly half of the budget dedicated to capital spending, the financial plan reflects the administration’s focus on boosting economic stability, strengthening security, expanding infrastructure, and promoting inclusive growth.
The allocations aim to strike a balance between mandatory obligations, debt commitments, operational costs, and investments critical to national development and improved living standards.
In addition, Tinubu approved the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, effectively shifting the deadline for implementing the capital component of the 2025 budget from March 31, 2026, to June 30, 2026.
The extension is designed to allow for optimal utilisation of funds, particularly for key infrastructure and development projects already nearing completion nationwide.
It is also expected to give Ministries, Departments, and Agencies more time to complete ongoing projects, improve delivery rates, and ensure better 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.
Tinubu further directed MDAs to ensure prudent, transparent, and efficient use of allocated funds, stressing the need for accountability, value for money, and timely execution of projects.
He also praised the National Assembly for its cooperation and swift passage of the budget, describing their efforts as a demonstration of commitment to national progress.
The President emphasised the need for continued synergy between the executive and legislative arms of government to achieve shared development goals.
He reassured Nigerians of his administration’s determination to sustain fiscal reforms, boost revenue generation, and prioritise investments that will drive economic expansion, create employment opportunities, and strengthen social protection systems.
