Bola Tinubu has formally signed the 2026 Appropriation Bill into law, approving a total expenditure of ₦68.32 trillion, in a move that sets the fiscal direction for the year ahead.
Alongside this, he also endorsed legislation extending the implementation period of the 2025 budget to June 30, 2026.
The 2026 budget reflects a broad allocation strategy aimed at balancing key national priorities. Of the total sum, ₦4.799 trillion has been designated for statutory transfers, while ₦15.8 trillion is earmarked for debt servicing.
Recurrent expenditure stands at ₦15.4 trillion, and a significant ₦32.2 trillion has been allocated to capital projects through the Development Fund.
Notably, capital expenditure accounts for roughly half of the total budget, underlining the administration’s emphasis on infrastructure development, economic resilience, and national security, as well as broader goals tied to inclusive growth.
In addition to the new budget, the president approved the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026. This adjustment extends the timeline for implementing the capital component of the 2025 Appropriation Act from March 31 to June 30, 2026. The extension is expected to ensure that ongoing projects particularly those nearing completion, receive adequate funding and attention to be fully realised.
By allowing more time, Ministries, Departments, and Agencies (MDAs) are better positioned to consolidate existing work, improve completion rates, and derive maximum value from public spending.
With the 2026 Appropriation Act taking effect from April 1, the federal government is set to commence full implementation in alignment with its Renewed Hope Agenda. The president has directed MDAs to maintain discipline and transparency in the use of public funds, while ensuring efficient execution and timely delivery of projects.
Tinubu also acknowledged the role of the National Assembly, commending its leadership and members for their swift consideration and passage of the budget. He stressed the importance of continued collaboration between the executive and legislative arms in driving national development.
Reaffirming his administration’s priorities, the president highlighted plans to deepen fiscal reforms, boost revenue generation, and channel investments into sectors that can stimulate economic growth, create employment opportunities, and strengthen social protection systems.
The statement was issued by Bayo Onanuga, Special Adviser to the President on Information and Strategy.
