President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill, setting total government spending at ₦68.32 trillion for the fiscal year.
The president also approved an extension of the 2025 budget’s capital component, shifting its implementation deadline from March 31 to June 30, 2026, to allow Ministries, Departments and Agencies (MDAs) complete ongoing projects.
The approvals were announced in a statement issued on Friday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, following a signing ceremony at the State House, Abuja.
According to the breakdown, ₦4.799 trillion has been allocated for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent expenditure, while ₦32.2 trillion is earmarked for capital spending through the development fund.
The Federal Government said the budget structure reflects its focus on balancing obligations such as debt servicing with investments in infrastructure, economic growth, and social development, noting that capital expenditure accounts for roughly half of the total outlay.
It added that the extension of the 2025 capital budget would ensure optimal utilisation of funds already released, particularly for infrastructure and development projects nearing completion.
The government said the move would also help improve execution timelines, strengthen project delivery, and enhance value for money in public spending.
The 2026 budget, which took effect from April 1, is expected to be implemented in line with the administration’s Renewed Hope Agenda, with emphasis on economic stability, security, infrastructure expansion, and inclusive growth.
President Tinubu directed MDAs to ensure prudent, transparent, and efficient use of allocated resources, stressing the importance of accountability and timely execution of projects.
He also commended the National Assembly for its cooperation in passing the budget, describing the collaboration between the executive and legislature as critical to achieving national development goals.
The president reiterated his administration’s commitment to deepening fiscal reforms, boosting revenue generation, and investing in sectors that would drive economic growth, create employment, and strengthen social protection systems.
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