President Bola Ahmed Tinubu has signed the 2026 appropriation bill into law, approving a total expenditure of ₦68.32 trillion for the fiscal year.
The President also assented to legislation extending the implementation of the 2025 budget from March 31, 2026, to June 30, 2026, to allow completion of ongoing capital projects and fuller use of already approved funds.
According to a statement issued by Bayo Onanuga, the president’s special adviser on information and strategy, the new budget provides ₦4.799 trillion for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent spending, and ₦32.2 trillion for capital expenditure through the development fund.
With capital projects taking about half of total spending, the budget is expected to support infrastructure delivery, economic stability, national security and broader growth targets.
The Presidency said the extension of the 2025 budget would help Ministries, Departments and Agencies complete projects already at advanced stages, improve delivery rates and maximise public value.
The 2026 budget took effect from April 1, with the Federal Government set to begin full implementation under the Renewed Hope Agenda.
President Tinubu directed all MDAs to ensure transparent and efficient use of resources, stressing value for money and timely execution of projects.
He also praised the National Assembly for the swift passage of the spending plan and reaffirmed the need for continued cooperation between the executive and legislature.
He further pledged to sustain fiscal reforms, boost revenue generation, create jobs and strengthen social protection programmes for Nigerians.
