President Bola Ahmed Tinubu has signed the 2026 Appropriation Bill into law, approving a total budget of ₦68.32 trillion.
He also assented to a separate bill extending the implementation period of the 2025 budget from March 31, 2026, to June 30, 2026.
This was disclosed in a statement issued on Friday by his Senior Special Assistant on Information and Strategy, Bayo Onanuga.
According to the statement, the 2026 budget allocates ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing. Recurrent expenditure is set at ₦15.4 trillion, while ₦32.2 trillion has been earmarked for capital expenditure through the Development Fund.
With nearly half of the budget dedicated to capital projects, the plan reflects the administration’s focus on economic stability, national security, infrastructure development, and inclusive growth. The allocations aim to balance statutory obligations, debt payments, and investments needed to boost productivity and improve living standards.
In addition, the President signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the capital component of the 2025 budget to June 30. The extension is expected to allow for the completion of ongoing infrastructure and development projects across the country.
It will also enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing work, improve project completion rates, and ensure better value for public spending.
With the 2026 budget taking effect from April 1, the Federal Government is set to begin full implementation in line with its Renewed Hope Agenda.
President Tinubu directed MDAs to ensure transparency, discipline, and efficiency in the use of funds, emphasising value for money and timely project delivery.
He also commended the National Assembly for its swift consideration and passage of the budget, highlighting the importance of continued collaboration between the executive and legislative arms of government.
The President further assured Nigerians of his administration’s commitment to strengthening fiscal reforms, boosting revenue generation, and prioritising investments that will drive economic growth, create jobs, and expand social protection.