President Bola Tinubu has signed into law the ₦68.32 trillion 2026 Appropriation Bill, clearing the way for the full implementation of the Federal Government’s fiscal plan for the year. The development marks the beginning of a new budget cycle, which officially took effect from April 1 and is aligned with the administration’s broader economic reform agenda.
In a related move, the President also approved an amendment extending the implementation of the 2025 Appropriation Act from March 31 to June 30, 2026. The extension is aimed at allowing Ministries, Departments and Agencies to complete ongoing capital projects that are already at advanced stages, ensuring that previously allocated funds are fully utilised.
A breakdown of the 2026 budget shows that ₦4.799 trillion has been set aside for statutory transfers, while ₦15.8 trillion is earmarked for debt servicing. Recurrent expenditure will gulp ₦15.4 trillion, with a significant ₦32.2 trillion allocated to capital projects under the development fund. The allocation means that about half of the total budget is dedicated to capital expenditure, reflecting a strong focus on infrastructure development, national security and investments intended to drive productivity and economic growth.
The Presidency said the extension of the 2025 budget would help ensure effective utilisation of public funds, particularly for critical infrastructure projects nearing completion. It is also expected to improve project execution timelines and enable government agencies to deliver better value for money.
President Tinubu has, however, directed all government agencies to maintain strict discipline, transparency and efficiency in the use of public resources. He emphasised the need for accountability and timely execution of projects, stressing that public funds must be managed in a way that delivers tangible benefits to Nigerians.
He also commended the leadership of the National Assembly for the speedy consideration and passage of the budget, noting that sustained cooperation between the executive and legislative arms remains vital to achieving national development goals.
Reaffirming his administration’s commitment to economic stability, the President pledged to deepen ongoing reforms, boost revenue generation and prioritise investments that will stimulate growth, create jobs and strengthen social protection programmes across the country.
