President Bola Ahmed Tinubu has signed into law the ₦68.32 trillion 2026 Appropriation Bill, unveiling an ambitious fiscal plan that prioritises infrastructure, economic stability, and inclusive growth.
In a parallel move, the President also approved an amendment extending the lifespan of the 2025 budget to June 30, 2026, providing additional time for the completion of key capital projects nationwide.
Details of the 2026 budget show ₦4.799 trillion allocated for statutory transfers, ₦15.8 trillion for debt servicing, and ₦15.4 trillion for recurrent expenditure. Notably, ₦32.2 trillion—representing about 50 per cent of the total budget—has been earmarked for capital expenditure under the Development Fund.
The heavy allocation to capital projects signals a strategic shift toward infrastructure development, improved national security, and productivity-enhancing investments aimed at raising living standards across the country.
According to a statement by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, the extension of the 2025 budget is designed to ensure the “full and effective utilisation” of funds, particularly for projects nearing completion.
The extension is expected to help Ministries, Departments, and Agencies (MDAs) consolidate ongoing works, improve delivery timelines, and ensure better value for public spending.
The newly signed 2026 Appropriation Act, which takes effect from April 1, ushers in a fresh fiscal cycle aligned with the administration’s Renewed Hope Agenda.
President Tinubu has directed all MDAs to uphold strict financial discipline, transparency, and efficiency in the use of public funds, stressing adherence to value-for-money principles and timely execution of projects.
He also praised the National Assembly for its swift passage of the budget, highlighting the importance of continued cooperation between the legislative and executive arms in advancing national development.
Reaffirming his administration’s commitment to fiscal responsibility, Tinubu pledged to deepen reforms, enhance revenue generation, and prioritise investments that will stimulate economic growth, create jobs, and strengthen social safety nets.
