President Bola Ahmed Tinubu has signed the ₦68.32 trillion 2026 Appropriation Bill into law, formally setting the fiscal framework for the new financial year.
The approval was confirmed in a statement issued on Friday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.
The 2026 budget outlines total expenditure of ₦68.32 trillion, with allocations including ₦4.799 trillion for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent spending, and ₦32.2 trillion for capital projects under the development fund. Capital expenditure represents roughly half of the total budget, reflecting the administration’s focus on infrastructure and long-term economic growth.
Alongside the budget signing, the President also approved an extension of the implementation period for the 2025 Appropriation Act. The deadline has been moved from March 31, 2026, to June 30, 2026, allowing more time for the completion of ongoing capital projects across Ministries, Departments, and Agencies (MDAs).
According to the Presidency, the extension is intended to ensure full utilisation of allocated funds, improve completion rates of critical infrastructure projects, and maximise value for public spending.
With the 2026 Appropriation Act taking effect from April 1, the Federal Government is expected to begin full implementation in line with its development priorities under the Renewed Hope Agenda.
President Tinubu also directed MDAs to ensure transparency, discipline, and efficiency in the use of public funds, stressing the importance of value for money and timely delivery of projects.
He commended the National Assembly for its cooperation in the budget’s passage and reaffirmed the need for continued collaboration between the executive and legislature to advance national development goals.
The President further reiterated his administration’s commitment to fiscal reforms, improved revenue generation, job creation, and expanded investment in social and economic development programmes.
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