Dare Babalola
President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill totalling ₦68.32 trillion, while also approving an extension of the 2025 budget implementation period to June 30, 2026.
The development was disclosed in a State House press release issued on Friday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.
According to the statement, the newly assented budget outlines a comprehensive fiscal framework aimed at sustaining economic stability and advancing national development priorities.
“President Bola Ahmed Tinubu has assented to the 2026 Appropriation Bill, which provides for an aggregate expenditure of ₦68.32 trillion. He has also signed the bill extending the implementation period for the 2025 budget from March 31, 2026, to June 30, 2026,” the statement read.
A breakdown of the budget shows that ₦4.799 trillion has been earmarked for statutory transfers, while ₦15.8 trillion is allocated for debt servicing. Recurrent expenditure is projected at ₦15.4 trillion, with a significant ₦32.2 trillion dedicated to the Development Fund for capital expenditure.
The Presidency emphasised that the capital component—accounting for about 50 per cent of the total budget—demonstrates the administration’s focus on infrastructure and long-term economic growth.
“With capital expenditure accounting for about 50 per cent, the 2026 budget underscores the administration’s continued commitment to economic stability, national security, infrastructure development, and inclusive growth,” Onanuga stated.
He added that the allocations reflect “a strategic balance between statutory obligations, debt servicing, recurrent expenditure, and capital investments critical to driving productivity and improving the quality of life for Nigerians.”
In addition to signing the 2026 budget, the President also assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which formally extends the lifespan of the 2025 Appropriation Act’s capital component.
The statement noted that the extension would allow for the completion of ongoing projects across the country.
“The extension will ensure the full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects that are at advanced stages of implementation across the country,” the statement said.
He continued, “It will enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure.”
The 2026 Appropriation Act took effect from April 1, with the Federal Government expected to commence full-scale implementation in alignment with the administration’s Renewed Hope Agenda.
President Tinubu directed all Ministries, Departments, and Agencies to adhere strictly to fiscal discipline and transparency in executing the budget.
“He directed MDAs to ensure disciplined, transparent, and efficient utilisation of allocated resources, with a strong emphasis on value for money and timely project delivery,” the statement added.
The President also commended the National Assembly for its swift consideration and passage of the budget, describing the lawmakers’ efforts as a demonstration of patriotism and commitment to national development.
“He commended the leadership and members of the National Assembly for their diligence, cooperation, and patriotism in expeditiously considering and passing the budget,” Onanuga said.
Tinubu further stressed the importance of synergy between the executive and legislative arms of government in achieving development goals, while assuring Nigerians of continued fiscal reforms.
The statement read, “He reaffirmed the importance of sustained collaboration between the Executive and Legislative arms of government in advancing national development objectives.
“He further assured Nigerians of his administration’s resolve to deepen fiscal reforms, enhance revenue generation, and prioritise investments that will stimulate economic growth, create jobs, and strengthen social protection mechanisms.”
