President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Act, approving a record ₦68.32 trillion expenditure for the fiscal year, while also extending the implementation of the 2025 budget to June 30, 2026.
The Presidency disclosed this on Friday in a statement issued by the Special Adviser on Information and Strategy, Bayo Onanuga.
According to the statement, the newly assented budget provides ₦4.799 trillion for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent expenditure, and ₦32.2 trillion for capital projects under the Development Fund.
Described as “The Budget of Consolidation, Renewed Resilience and Shared Prosperity,” the fiscal plan took effect from April 1, 2026, with full implementation already underway.
The Presidency emphasised that nearly 50 per cent allocation to capital expenditure reflects the administration’s commitment to infrastructure development, economic stability, national security, and inclusive growth.
“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,” the statement noted.
In a related development, Tinubu also signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the capital component of the 2025 budget from March 31 to June 30. The move, according to the Presidency, is aimed at ensuring the full utilisation of funds, particularly for ongoing infrastructure projects nearing completion.
The extension is expected to enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing projects, improve completion rates, and maximise value for public spending.
Tinubu directed MDAs to prioritise transparency, discipline, and efficiency in budget implementation, stressing the need for value for money and timely delivery of projects.
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 in advancing development goals.
The President further reaffirmed his administration’s commitment to fiscal reforms, improved revenue generation, and investments targeted at economic growth, job creation, and social protection.
Originally presented to the National Assembly on December 19, 2025, at ₦58.47 trillion, the budget was revised upward to ₦68.32 trillion after legislative scrutiny.
Key sectoral allocations include ₦5.41 trillion for defence and security, ₦3.56 trillion for infrastructure, ₦3.52 trillion for education, and ₦2.48 trillion for health.
Tinubu had earlier described the budget as a critical step in Nigeria’s reform journey, acknowledging the challenges faced by citizens while maintaining that ongoing reforms are necessary for long-term stability and shared prosperity.
