President Bola Ahmed Tinubu has officially signed into law Nigeria’s 2026 Appropriation Bill, setting total government spending at ₦68.32 trillion, while also approving an extension of the 2025 budget implementation period to June 30, 2026.
The newly enacted budget outlines ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing. Recurrent expenditure is projected at ₦15.4 trillion, while a significant ₦32.2 trillion has been allocated to capital projects under the Development Fund.
With capital expenditure making up roughly half of the total budget, the administration says the plan reflects a strong focus on infrastructure development, economic stability, national security, and inclusive growth.
In a related move, the president also signed an amendment bill extending the capital component of the 2025 budget. The extension is intended to allow Ministries, Departments, and Agencies (MDAs) to complete ongoing projects and ensure efficient use of allocated funds, particularly for infrastructure initiatives nearing completion.
The 2026 budget took effect on April 1, with full implementation now underway. President Tinubu has directed all MDAs to ensure transparency, fiscal discipline, and timely execution of projects, emphasizing value for money in public spending.
He also praised the National Assembly for its swift passage of the budget and reaffirmed his administration’s commitment to collaboration between government arms to drive national development.
The government says it will continue to pursue fiscal reforms, improve revenue generation, and invest in sectors that promote economic growth, job creation, and stronger social protection systems across Nigeria.
