President Bola Ahmed Tinubu has signed the 2026 Appropriation Bill into law, approving a total expenditure of ₦68.32 trillion alongside an extension of the 2025 budget implementation period to June 30, 2026.
The President also assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which formally extends the execution timeline of the 2025 capital budget from March 31, 2026, to June 30, 2026, to ensure full utilisation of allocated funds for ongoing projects.
The ₦68.32 trillion 2026 budget allocates ₦4.799 trillion to statutory transfers, ₦15.8 trillion to debt servicing, ₦15.4 trillion to recurrent expenditure, and ₦32.2 trillion to capital projects under the Development Fund.
Capital expenditure accounts for about 50 percent of the total budget, underscoring the administration’s focus on infrastructure development, economic stability, national security, and inclusive growth.
According to the Presidency, the budget structure reflects a strategic balance between statutory obligations, debt commitments, recurrent spending, and investments aimed at boosting productivity and improving living standards.
The extension of the 2025 budget timeline is expected to allow Ministries, Departments and Agencies (MDAs) to complete ongoing infrastructure and development projects, improve execution rates, and maximise public value from approved funds.
With the 2026 Appropriation Act now in force from April 1, the Federal Government says implementation will proceed under the Renewed Hope Agenda, with emphasis on transparency, discipline, and efficiency in public spending.
President Tinubu commended the National Assembly for its swift consideration and passage of the budget, while reaffirming the importance of cooperation between the executive and legislature in driving national development.
He also pledged continued fiscal reforms, improved revenue generation, and increased investment in job creation, economic growth, and social protection programmes.
ELIJAH ADEYEMI
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