President Bola Ahmed Tinubu has signed the 2026 Appropriation Bill into law, setting total government spending at ₦68.32 trillion. He also approved an extension of the 2025 budget’s implementation period, moving the deadline from March 31, 2026, to June 30, 2026.
The 2026 budget includes ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing. Recurrent (non-capital) expenses are allocated ₦15.4 trillion, while ₦32.2 trillion is set aside for capital projects under the Development Fund.
With about half of the total budget dedicated to capital expenditure, the plan highlights the administration’s focus on strengthening the economy, improving security, expanding infrastructure, and promoting inclusive growth.
The distribution of funds reflects an effort to balance mandatory obligations, debt payments, routine government costs, and investments aimed at boosting productivity and improving citizens’ living standards.
In addition, the President signed an amendment to the 2025 Appropriation Act, extending the capital expenditure timeline to June 30, 2026. This move is intended to ensure that ongoing infrastructure and development projects—many already near completion—are fully executed.
The extension will allow Ministries, Departments, and Agencies (MDAs) to complete existing projects more effectively, improve delivery rates, and ensure better value for public spending.
With the new budget taking effect from April 1, the Federal Government will begin full implementation in line with its Renewed Hope Agenda.
President Tinubu has instructed MDAs to use allocated funds responsibly, emphasizing transparency, efficiency, and timely execution of projects.
He also praised the National Assembly for its swift and cooperative handling of the budget and reiterated the importance of continued collaboration between the executive and legislative arms of government.
Finally, the President assured Nigerians of his administration’s commitment to ongoing fiscal reforms, improved revenue generation, and strategic investments aimed at driving economic growth, creating jobs, and strengthening social welfare systems.
