President Bola Ahmed Tinubu has assented to the 2026 Appropriation Bill, approving an aggregate expenditure of ₦68.32 trillion. He also signed into law the extension of the implementation period for the 2025 budget from March 31, 2026, to June 30, 2026.
The 2026 budget allocates ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing. A total of ₦15.4 trillion has been earmarked for recurrent expenditure, while ₦32.2 trillion is designated for the Development Fund to support capital expenditure.
With capital spending accounting for about 50 per cent of the total budget, the fiscal plan highlights the administration’s commitment to economic stability, national security, infrastructure development, and inclusive growth.
The allocations reflect a deliberate balance between statutory obligations, debt servicing, recurrent spending, and critical capital investments aimed at boosting productivity and improving the quality of life for Nigerians.
In addition, the President signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the implementation period of the capital component of the 2025 Appropriation Act to June 30, 2026.
The extension is expected to ensure full utilisation of allocated funds, particularly for ongoing infrastructure and development projects nearing completion across the country. It will also enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing projects, improve completion rates, and maximise value for public expenditure.
With the 2026 Appropriation Act taking effect from April 1, the Federal Government is set to commence full implementation in line with the Renewed Hope Agenda.
President Tinubu has directed all MDAs to ensure disciplined, transparent, and efficient use of resources, with a strong emphasis on value for money and timely project delivery.
He commended the leadership and members of the National Assembly for their diligence, cooperation, and patriotism in the swift consideration and passage of the budget.
The President also reaffirmed the importance of continued collaboration between the Executive and Legislative arms of government in advancing national development goals.
He further assured Nigerians of his administration’s commitment to deepening fiscal reforms, improving revenue generation, and prioritising investments that will drive economic growth, create jobs, and strengthen social protection systems.
