President Bola Ahmed Tinubu has assented to the 2026 appropriation bill, which provides for an aggregate expenditure of ₦68.32 trillion. He has also signed the bill extending the implementation period for the 2025 budget from March 31, 2026, to June 30, 2026.
The ₦68.32 trillion budget for this year earmarks ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt service. It allocates ₦15.4 trillion to recurrent expenditure and ₦32.2 trillion to the development fund for capital expenditure.
With capital expenditure accounting for about 50 per cent, the 2026 budget underscores the administration’s continued commitment to economic stability, national security, infrastructure development, and inclusive growth.
A statement signed by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, says the allocations reflect a strategic balance between statutory obligations, debt servicing, recurrent expenditure, and capital investments critical to driving productivity and improving the quality of life for Nigerians.
Additionally, the president has assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the implementation period of the capital component of the 2025 appropriation act from March 31, 2026, to June 30, 2026.
With the 2026 appropriation act coming into force on April 1, the federal government will commence full implementation in line with the Renewed Hope Agenda.
President Tinubu directed MDAs to ensure disciplined, transparent, and efficient utilisation of allocated resources, with a strong emphasis on value for money and timely project delivery.
He commended the leadership and members of the National Assembly for their diligence, cooperation, and patriotism in expeditiously considering and passing the budget.
He further assured Nigerians of his administration’s resolve to deepen fiscal reforms, enhance revenue generation, and prioritise investments that will stimulate economic growth, create jobs, and strengthen social protection mechanisms.