ABUJA – President Bola Ahmed Tinubu has signed the 2026 Appropriation Bill into law, authorizing aggregate federal spending of ₦68.32 trillion for the fiscal year beginning April 1, 2026.
The President also assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the implementation period for the 2025 budget’s capital component from March 31, 2026, to June 30, 2026.
50% of Budget for Capital Expenditure
The ₦68.32 trillion budget earmarks ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing. It allocates ₦15.4 trillion to recurrent expenditure, while ₦32.2 trillion is set aside for the Development Fund for Capital Expenditure.
With capital expenditure accounting for approximately 50% of the total budget, the presidency said the 2026 spending plan “underscores the administration’s continued commitment to economic stability, national security, infrastructure development, and inclusive growth.”
The allocations, according to the statement, “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.”
2025 Budget Extended to June 30
The signed extension bill allows Ministries, Departments, and Agencies (MDAs) to continue utilizing appropriated funds from the 2025 budget until June 30, 2026.
“The extension will ensure the full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects that are at advanced stages of implementation across the country,” the presidency stated.
The government added that the move “will enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure.”
Full Implementation Begins April 1
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.”
President Commends National Assembly
The President commended the leadership and members of the National Assembly “for their diligence, cooperation, and patriotism in expeditiously considering and passing the budget.”
He reaffirmed “the importance of sustained collaboration between the Executive and Legislative arms of government in advancing national development objectives.”
Assurance to Nigerians
President Tinubu 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.”
Discussion about this post