President Bola Tinubu has assented to the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion and formally setting the fiscal framework for the new budget cycle beginning April 1, 2026.
The President also signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the implementation period of the capital component of the 2025 budget from March 31, 2026, to June 30, 2026, to allow for fuller execution of ongoing projects nationwide.
The 2026 budget allocates ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing. Recurrent expenditure is set at ₦15.4 trillion, while ₦32.2 trillion is earmarked for the Development Fund for capital projects.
With capital expenditure accounting for about 50 percent of total spending, the budget reflects the administration’s continued focus on infrastructure development, economic stability, national security, and inclusive growth.
According to the presidency, the allocation structure is designed to balance statutory obligations, debt commitments, and investments in critical sectors aimed at improving productivity and living standards.
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The extension of the 2025 capital budget, according to the government, will ensure the completion of key infrastructure projects and strengthen value for public expenditure. It will also enable ministries, departments, and agencies (MDAs) to consolidate ongoing works and improve project delivery outcomes.
According to a statement issued by the Special adviser to the president on information and strategy Bayo Onanuga, With the 2026 Appropriation Act now in force, full implementation is expected to commence immediately in line with the Renewed Hope Agenda.
President Tinubu directed MDAs to uphold discipline, transparency, and efficiency in the utilisation of public funds, stressing value for money, and timely delivery of projects.
He also commended the National Assembly for its swift consideration and passage of the budget, describing the collaboration between the executive and legislature as vital to national development.
The President reaffirmed his administration’s commitment to fiscal reforms, improved revenue generation, job creation, and expanded social investment programmes.
Editor: Ebuwa Omo-Osagie
