President Bola Tinubu has signed the 2026 Appropriation Bill into law, approving a total expenditure of ₦68.32tn for the fiscal year.
The development was announced in a statement issued on Friday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.
According to the statement, the budget provides for ₦4.799tn in statutory transfers, ₦15.8tn for debt servicing, ₦15.4tn for recurrent expenditure, and ₦32.2tn earmarked for capital projects under the Development Fund.
The Federal Government said the allocation of nearly half of the budget to capital expenditure reflects its focus on economic stability, infrastructure development, national security and inclusive growth.
“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 President also assented to an amendment extending the implementation of the capital component of the 2025 budget from March 31, 2026, to June 30, 2026.
According to the presidency, the extension is intended to allow Ministries, Departments and Agencies to complete ongoing projects nearing completion.
“The extension will ensure the full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects at advanced stages across the country,” the statement added.
With the new Appropriation Act taking effect from April 1, the government is expected to commence full implementation in line with its policy agenda.
Tinubu directed Ministries, Departments and Agencies to ensure prudent use of public funds.
“He directed MDAs to ensure disciplined, transparent and efficient utilisation of allocated resources, with a strong emphasis on value for money and timely project delivery,” Onanuga stated.
The President commended the National Assembly for the swift passage of the budget and called for sustained collaboration between the executive and legislative arms.
He also reaffirmed his administration’s commitment to fiscal reforms, improved revenue generation and increased investment in economic growth, job creation and social protection programmes.
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