President Bola Ahmed Tinubu has assented to the 2026 Appropriation Bill, approving a total government expenditure of ₦68.32 trillion for the fiscal year.
The President also signed into law an amendment extending the implementation period of the 2025 budget from March 31 to June 30, 2026, to allow for the completion of ongoing projects.
Details of the development were contained in a statement issued by Bayo Onanuga.
According to the statement, ₦4.799 trillion has been allocated for statutory transfers, while ₦15.8 trillion is earmarked for debt servicing. The budget also provides ₦15.4 trillion for recurrent expenditure and ₦32.2 trillion for capital projects through the Development Fund.
The presidency noted that capital expenditure accounts for about 50 per cent of the total budget, reflecting the administration’s commitment to infrastructure development, economic stability, national security, and inclusive growth.
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It added that the allocations demonstrate a strategic balance between statutory obligations, debt servicing, recurrent spending, and capital investments aimed at boosting productivity and improving the quality of life of Nigerians.
The 2026 Appropriation Act took effect from April 1, with implementation already underway in line with the administration’s Renewed Hope Agenda.
President Tinubu also signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the capital component of the 2025 budget by three months to June 30.
The presidency explained that the extension would ensure optimal utilisation of funds, particularly for key infrastructure projects nearing completion, and enable Ministries, Departments, and Agencies to consolidate ongoing works and improve project delivery.
The President further directed all Ministries, Departments, and Agencies to uphold discipline, transparency, and efficiency in the use of public funds, emphasising the need for value for money and timely execution of projects.
He also commended the leadership and members of the National Assembly for their diligence and cooperation in the passage of the budget, reiterating the importance of sustained collaboration between the executive and legislative arms of government.
Tinubu reassured Nigerians of his administration’s commitment to deepening fiscal reforms, enhancing revenue generation, and prioritising investments that will stimulate economic growth, create jobs, and strengthen social protection mechanisms.