President Bola Tinubu has signed into law the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion, while also assenting to a measure extending the implementation period of the 2025 budget.
The newly signed 2026 budget provides ₦4.799 trillion for statutory transfers, ₦15.8 trillion for debt servicing, and ₦15.4 trillion for recurrent (non-debt) expenditure. A significant ₦32.2 trillion has been allocated to the Development Fund for capital expenditure, representing about 50 per cent of the total budget.
According to the Presidency, the budget framework reflects the administration’s commitment to economic stability, improved national security, infrastructure development, and inclusive growth. The allocation structure is designed to balance statutory obligations, debt commitments, and critical investments aimed at boosting productivity and enhancing the living standards of Nigerians.
In addition, the President approved the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the implementation of the capital component of the 2025 budget from March 31, 2026, to June 30, 2026.
The extension is expected to allow Ministries, Departments, and Agencies (MDAs) to complete ongoing projects, particularly those at advanced stages, and ensure optimal utilisation of allocated funds. It is also aimed at improving project delivery timelines and maximising value for public expenditure.
With the 2026 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 MDAs to ensure disciplined, transparent, and efficient use of public resources, stressing the need for accountability, value for money, and timely execution of projects.
He also commended the leadership and members of the National Assembly for their cooperation and swift passage of the budget, noting that sustained collaboration between the executive and legislative arms remains crucial to achieving national development goals.
The President further reassured Nigerians of his administration’s commitment to deepening fiscal reforms, improving revenue generation, stimulating economic growth, creating jobs, and strengthening social protection programmes.