President Bola Tinubu has signed the 2026 Appropriation Bill into law, approving a total expenditure of ₦68.32 trillion for the fiscal year.
He also assented to a separate bill extending the implementation period of the 2025 budget from March 31 to June 30, 2026, to allow for the completion of ongoing projects.
The presidency disclosed this in a statement on Friday signed by the Special Adviser on Information and Strategy, Bayo Onanuga.
According to the statement, the ₦68.32 trillion budget allocates ₦4.799 trillion for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent expenditure, and ₦32.2 trillion for capital expenditure through the Development Fund.
The presidency said the budget reflects a strategic balance between statutory obligations, debt servicing, and critical investments, noting that capital expenditure accounts for about 50 per cent of the total outlay. It added that the fiscal plan underscores the administration’s commitment to economic stability, national security, infrastructure development, and inclusive growth.
The 2026 Appropriation Act took effect from April 1, with full implementation already underway in line with the government’s Renewed Hope Agenda.
Tinubu also signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the capital component of the 2025 budget by three months. The presidency said the extension would ensure the full utilisation of funds, particularly for infrastructure projects nearing completion, and enable Ministries, Departments, and Agencies to consolidate ongoing works and improve project delivery.
The President directed all MDAs to ensure disciplined, transparent, and efficient use of resources, with a strong emphasis on value for money and timely execution of projects.
He commended the leadership and members of the National Assembly for what he described as their diligence and cooperation in the swift passage of the budget, while reaffirming the importance of continued collaboration between the executive and legislative arms of government.
Tinubu also reiterated his administration’s commitment to deepening fiscal reforms, boosting revenue generation, and prioritising investments that will drive economic growth, create jobs, and strengthen social protection systems.
The budget, titled “The Budget of Consolidation, Renewed Resilience and Shared Prosperity,” was initially presented to a joint session of the National Assembly on December 19, 2025, at ₦58.47 trillion before it was increased to ₦68.32 trillion following legislative review.
During the presentation, the President described the proposal as a defining moment in Nigeria’s reform journey, acknowledging the challenges faced by citizens while maintaining that the reforms were necessary for long-term stability and shared prosperity.
