Bola Tinubu has signed the 2026 Appropriation Bill into law, approving an aggregate expenditure of ₦68.32 trillion for the fiscal year.
He also approved a separate amendment extending the implementation period of the 2025 budget from March 31 to June 30, 2026.
According to the breakdown, ₦4.799 trillion is allocated for statutory transfers, while ₦15.8 trillion is set aside for debt servicing. Recurrent expenditure is projected at ₦15.4 trillion, and ₦32.2 trillion is earmarked for capital projects under the Development Fund.
The presidency disclosed this in a statement issued by Special Adviser on Information and Strategy, Bayo Onanuga, on Friday.
The statement said, “President Bola Ahmed Tinubu has assented to the 2026 Appropriation Bill, which provides for an aggregate expenditure of ₦68.32 trillion. He has also signed the bill extending the implementation period for the 2025 budget from March 31, 2026, to June 30, 2026.”
It added that the budget reflects a balance between statutory obligations, debt repayment, recurrent spending, and capital investment aimed at driving growth and development.
“With capital expenditure accounting for about 50 per cent, the 2026 budget underscores the administration’s continued commitment to economic stability, national security, infrastructure development, and inclusive growth,” the statement read.
The 2026 Appropriation Act took effect on April 1, with implementation now underway under the administration’s fiscal framework.
Tinubu also signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the capital component of the 2025 budget by three months to June 30 to ensure full utilisation of funds.
The presidency said the extension will help ministries, departments, and agencies complete ongoing projects and improve delivery of critical infrastructure nationwide.
The President directed MDAs to ensure transparency, discipline, and efficiency in the use of public funds, stressing value for money and timely project execution.
He also commended the National Assembly for its swift consideration and passage of the budget and reaffirmed cooperation between both arms of government in driving national development.
Tinubu further pledged continued fiscal reforms, improved revenue generation, and increased investment in job creation, economic growth, and social protection programmes.