President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion for the fiscal year.
The President also assented to an amendment extending the implementation period of the capital component of the 2025 budget from March 31, 2026, to June 30, 2026, to allow for the completion of ongoing projects.
The announcement was made in a statement issued on Friday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.
According to the breakdown of the 2026 budget, ₦4.799 trillion is allocated for statutory transfers, while ₦15.8 trillion is set aside for debt servicing. Recurrent expenditure will take ₦15.4 trillion, while ₦32.2 trillion has been earmarked for capital expenditure through the Development Fund.
The government said the allocation reflects a deliberate effort to balance statutory obligations, debt commitments, and investments in infrastructure and development. It noted that capital expenditure accounts for about 50 per cent of the total budget, signalling a focus on economic stability, national security, and inclusive growth.
The extension of the 2025 capital budget, according to the statement, is aimed at ensuring the full utilisation of funds, particularly for critical infrastructure projects already at advanced stages. Ministries, departments, and agencies are expected to use the additional time to consolidate ongoing work, improve completion rates, and maximise public spending.
With the 2026 budget taking effect from April 1, the Federal Government is set to begin full implementation in line with its policy direction. The President directed all government agencies to ensure transparency, discipline, and efficiency in the use of public funds, with emphasis on value for money and timely delivery of projects.
He commended the National Assembly for its swift consideration and passage of the budget, stressing the importance of continued collaboration between the executive and legislative arms in driving national development.
The administration also reaffirmed its commitment to fiscal reforms, improved revenue generation, and increased investment in key sectors to stimulate economic growth, create jobs, and strengthen social protection.
To finance part of the budget, the government plans to rely on external borrowing, following the approval of a foreign loan package exceeding $21 billion to cover the fiscal deficit.
The 2026 budget represents a significant increase of ₦9.85 trillion from the initial proposal of ₦58.47 trillion submitted to lawmakers, and ₦13.33 trillion higher than the 2025 budget.
In outlining priorities for the fiscal year, President Tinubu emphasised increased investment in national security, insisting that spending in the sector must produce measurable results. He also highlighted plans to strengthen agricultural systems through improved input financing, mechanisation, irrigation, and climate-resilient practices, alongside enhanced storage, processing, and agro-value chains.
Despite concerns raised in recent years over budget implementation and fund releases, the government maintains that the 2026 budget is structured to consolidate ongoing reforms and deliver tangible improvements in the lives of Nigerians.
Tinubu Signs ₦68.32tn 2026 Budget, Extends 2025 Capital Spending Deadline
