President Bola Ahmed Tinubu has assented to the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion, while also signing a bill to extend the implementation of the 2025 budget to June 30, 2026.
The newly signed 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 projects under the Development Fund.
With capital expenditure accounting for about 50 per cent of the total budget, the plan highlights the administration’s focus on economic stability, infrastructure development, national security, and inclusive growth. The allocations are designed to balance statutory obligations, debt servicing, and investments aimed at boosting productivity and improving living standards.
In addition, the President approved the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the capital component of the 2025 budget from its initial deadline of March 31, 2026, to June 30, 2026. The extension is expected to allow Ministries, Departments, and Agencies (MDAs) to complete ongoing projects and ensure optimal utilisation of allocated funds.
The 2026 Appropriation Act took effect from April 1, with full implementation to proceed in line with the administration’s Renewed Hope Agenda. President Tinubu has directed MDAs to ensure transparency, discipline, and efficiency in the use of public funds, emphasising value for money and timely delivery of projects.
He also commended the National Assembly for its swift consideration and passage of the budget, noting the importance of continued collaboration between the executive and legislative arms of government.
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The President reaffirmed his administration’s commitment to fiscal reforms, improved revenue generation, and targeted investments to drive economic growth, job creation, and enhanced social protection for Nigerians.