President Bola Tinubu has signed the 2026 Appropriation Bill into law. The budget provides for total spending of N68.32 trillion.
He also signed an amendment to extend the capital component of the 2025 budget. The extension moves the deadline from March 31, 2026, to June 30, 2026.
In a statement issued on Friday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, the 2026 budget provides N4.799 trillion for statutory transfers, N15.8 trillion for debt servicing, N15.4 trillion for recurrent expenditure, and N32.2 trillion for capital expenditure through the Development Fund.
The statement said capital spending accounts for about 50 per cent of the budget, reflecting the administration’s focus on economic stability, national security, infrastructure development and inclusive growth.
It added that the spending plan was designed to balance statutory obligations, debt service, recurrent expenditure and investments aimed at boosting productivity and improving the quality of life of Nigerians.
On the extension of the 2025 budget, the presidency said the measure would allow for the full utilisation of funds already appropriated for critical infrastructure and development projects that are at advanced stages across the country.
The government said the extension would help Ministries, Departments and Agencies consolidate ongoing works, improve project completion rates and maximise value from public spending.
The statement noted that the 2026 Appropriation Act took effect from April 1 and that full implementation would proceed in line with the administration’s Renewed Hope Agenda.
Tinubu directed MDAs to ensure disciplined, transparent and efficient use of allocated resources, with emphasis on value for money and timely project delivery.
He also commended the leadership and members of the National Assembly for what he described as their diligence, cooperation and patriotism in the speedy consideration and passage of the budget.
The President reaffirmed the need for sustained collaboration between the executive and legislative arms of government in advancing national development goals.
Tinubu also assured Nigerians of continued fiscal reforms. He said his administration will work to raise revenue, support growth, create jobs and strengthen social protection
