President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion for the fiscal year, 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 capital component of the 2025 budget from March 31, 2026, to June 30, 2026.
According to a State House statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the 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.
Capital expenditure accounts for about 50 per cent of the total budget, a development the Presidency said underscores the administration’s focus on infrastructure development, economic stability, national security, and inclusive growth.
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The extension of the 2025 budget implementation period, according to the statement, is intended to ensure the full utilisation of funds already appropriated, particularly for ongoing and near-completion projects across Ministries, Departments, and Agencies (MDAs).
“It will enable MDAs to consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure,” the statement added.
With the new fiscal year beginning on April 1, the Federal Government said full implementation of the 2026 Appropriation Act will proceed under the Renewed Hope Agenda, with emphasis on discipline, transparency, and efficiency in public spending.
President Tinubu also commended the National Assembly for its cooperation and timely passage of the budget, describing the collaboration between the executive and legislature as vital to national development.
He reaffirmed his administration’s commitment to deepening fiscal reforms, improving revenue generation, and prioritising investments that would stimulate economic growth, create jobs, and strengthen social protection systems for Nigerians.