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President Bola Tinubu has assented to the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion, while also signing into law an extension of the 2025 budget implementation period to June 30, 2026.

The newly signed budget outlines ₦4.799 trillion for statutory transfers and ₦15.8 trillion earmarked for debt servicing. Recurrent expenditure is projected at ₦15.4 trillion, while a significant ₦32.2 trillion has been allocated to the Development Fund for capital expenditure.

With capital spending accounting for about 50 per cent of the total budget, the Federal Government said the fiscal plan reflects a strong commitment to economic stability, infrastructure development, national security, and inclusive growth.

According to the Presidency, the allocations strike a balance between statutory obligations, debt servicing, and investments critical to boosting productivity and improving Nigerians’ quality of life.

In addition, the President signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the capital component of the 2025 budget from March 31 to June 30, 2026. The move is aimed at ensuring the full utilisation of funds, particularly for ongoing infrastructure and development projects nearing completion.

The extension is expected to enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing projects, improve completion rates, and maximise value for public spending.

The 2026 Appropriation Act, which took effect from April 1, will now be fully implemented in line with the administration’s Renewed Hope Agenda.

President Tinubu directed all MDAs to ensure disciplined, transparent, and efficient use of public funds, with emphasis on value for money and timely execution of projects.

He also commended the leadership of the National Assembly for what he described as diligence and patriotism in the swift consideration and passage of the budget, reaffirming the need for continued collaboration between the executive and legislative arms of government.

The President further assured Nigerians of his administration’s commitment to deepening fiscal reforms, boosting revenue generation, and prioritising investments that will drive economic growth, create jobs, and strengthen social protection systems.