President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion, while also extending the implementation period of the 2025 budget to June 30, 2026.
The approved 2026 budget allocates ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing. Recurrent expenditure is projected at ₦15.4 trillion, while ₦32.2 trillion has been earmarked for capital expenditure under the Development Fund.
With capital spending accounting for about 50 per cent of the total budget, the fiscal plan reflects the administration’s focus on economic stability, national security, infrastructure development, and inclusive growth. Government officials noted that the budget framework seeks to balance statutory obligations, debt commitments, and investments critical to boosting productivity and improving living standards.
In a related development, the President also assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the implementation of the capital component of the 2025 Appropriation Act from March 31 to June 30, 2026. The extension is intended to allow Ministries, Departments, and Agencies (MDAs) to complete ongoing infrastructure and development projects already at advanced stages.
The presidency stated that the move would enhance project completion rates and ensure optimal utilisation of public funds.
With the 2026 Appropriation Act taking effect from April 1, the Federal Government is set to commence full implementation in line with its policy agenda. President Tinubu directed MDAs to ensure transparency, efficiency, and strict adherence to value-for-money principles in executing the budget.
He also commended the National Assembly for its timely consideration and passage of the budget, reaffirming the importance of sustained cooperation between the executive and legislative arms in driving national development.
The President further reiterated his administration’s commitment to fiscal reforms, improved revenue generation, and strategic investments aimed at stimulating economic growth, creating jobs, and strengthening social protection programmes.
