President Bola Ahmed Tinubu has officially signed the 2026 Appropriation Bill into law, approved a total expenditure of ₦68.32 trillion, while also extending the implementation period of the 2025 budget to June 30, 2026.
The newly signed budget allocates ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing. Recurrent (non-debt) expenditure is set at ₦15.4 trillion, while a substantial ₦32.2 trillion has been earmarked for capital projects under the Development Fund.
With capital expenditure accounting for about 50 percent of the total budget, the fiscal plan reflects the administration’s focus on infrastructure development, economic stability, national security, and inclusive growth. The allocations are designed to strike a balance between statutory obligations, debt servicing, and investments aimed at boosting productivity and improving citizens’ welfare.
In a related development, President Tinubu also assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the capital component implementation of the 2025 budget from March 31 to June 30, 2026. The move is intended to ensure the completion of ongoing infrastructure and development projects already at advanced stages across the country.
According to the presidency, the extension will allow Ministries, Departments, and Agencies (MDAs) to consolidate ongoing works, improve project completion rates, and achieve better value for public spending.
The 2026 Appropriation Act, which took effect from April 1, will now be fully implemented in line with the administration’s Renewed Hope Agenda. The President has directed all MDAs to ensure prudent, transparent, and efficient use of allocated funds, with emphasis on accountability and timely project execution.
Tinubu also commended the leadership and members of the National Assembly for their swift consideration and passage of the budget, highlighting the importance of sustained cooperation between the executive and legislative arms of government.
He reaffirmed his administration’s commitment to fiscal reforms, improved revenue generation, job creation, and strengthened social protection programmes aimed at driving long-term economic growth.
