President Bola Tinubu has signed the 2026 Appropriation Bill into law, authorizing a total expenditure of ₦68.32 trillion for the fiscal year.
Alongside the new budget, the president approved an amendment extending the implementation of the capital component of the 2025 budget from March 31 to June 30, 2026, to allow for the completion of ongoing projects.
Details released by presidential spokesperson Bayo Onanuga show that the budget includes ₦4.799 trillion for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent expenditure, and ₦32.2 trillion earmarked for capital projects through the Development Fund.
Capital expenditure accounts for roughly half of the total budget, underscoring the administration’s focus on infrastructure development, economic stability, and inclusive growth.
With the Appropriation Act taking effect from April 1, the federal government is set to commence full implementation in line with its Renewed Hope Agenda.
President Tinubu directed all Ministries, Departments, and Agencies to ensure disciplined and transparent use of public funds, emphasizing efficiency, value for money, and timely delivery of projects.
He also commended the National Assembly for the swift passage of the budget, noting the importance of cooperation between the executive and legislative arms of government.
Reaffirming his administration’s priorities, the president highlighted ongoing fiscal reforms, improved revenue generation, job creation, and strengthened social protection systems.
Tinubu added that extending the 2025 capital budget would help ensure the completion of critical infrastructure projects and maximize the impact of government spending nationwide.
