President Bola Ahmed Tinubu has signed the 2026 Appropriation Bill into law, approving a total budget of ₦68.32 trillion for the fiscal year while also extending the implementation of the 2025 budget to June 30, 2026.

Breakdown of the budget

Details released by the Presidency show that ₦4.799 trillion is allocated for statutory transfers, while ₦15.8 trillion is set aside for debt servicing.

Recurrent expenditure will gulp ₦15.4 trillion, while ₦32.2 trillion has been earmarked for capital projects under the Development Fund.

The Presidency said the allocation reflects a balance between ongoing obligations and investments aimed at boosting infrastructure and economic growth.

Extension of 2025 budget

Tinubu also signed an amendment extending the lifespan of the 2025 Appropriation Act from March 31 to June 30, 2026.

According to the government, the extension is to allow Ministries, Departments and Agencies to complete ongoing capital projects already at advanced stages.

Officials say the move will help maximise the use of allocated funds and improve project delivery across the country.

Focus on infrastructure, growth

The government noted that capital expenditure accounts for about 50 per cent of the total budget, signalling a strong focus on infrastructure, security and inclusive growth.

The 2026 budget took effect from April 1, with full implementation already underway.

Tinubu tasks MDAs

The President has directed MDAs to ensure transparency, discipline and efficiency in the use of public funds.

He also emphasised the need for value for money and timely execution of projects.

Tinubu commended the National Assembly for what he described as swift consideration and passage of the budget, while reaffirming the importance of collaboration between both arms of government.

He further assured Nigerians of continued fiscal reforms, improved revenue generation and investments targeted at job creation and economic stability.