President Bola Tinubu has signed the ₦68.32 trillion 2026 Appropriation Bill into law, officially setting the framework for federal spending for the year.
The announcement was made on Friday in a statement by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.
According to the statement, the budget provides ₦4.79 trillion for statutory transfers and ₦15.8 trillion for debt servicing. It also allocates ₦15.4 trillion to recurrent expenditure, while ₦32.2 trillion is set aside for capital projects under the development fund.
“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,” he said.
“The allocations 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.”
Onanuga also confirmed that the President approved an extension of the 2025 budget implementation period from March 31 to June 30.
“Additionally, the President has assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the implementation period of the capital component of the 2025 Appropriation Act from March 31, 2026, to June 30, 2026,” he said.
“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.
“It will enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure.”
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He added that the 2026 appropriation act took effect from April 1, with full implementation set to begin in line with the Renewed Hope Agenda.
The President also directed ministries, departments and agencies to ensure transparent and efficient use of funds, stressing accountability and value for money in project execution.
Onanuga further noted that Tinubu reiterated the importance of cooperation between the executive and legislature in achieving national development goals, while pledging continued fiscal reforms aimed at boosting growth, job creation, and social protection.