Tinubu signs ₦68.32trn 2026 budget into law, extends 2025 spending timeline
President Bola Tinubu has approved the 2026 Appropriation Bill, putting into effect a total budget of ₦68.32 trillion for the fiscal year.
The President also endorsed another bill that shifts the deadline for implementing the 2025 budget from March 31 to June 30, 2026, to allow more time for ongoing projects.
Details of the approvals were contained in a statement issued on Friday by the Special Adviser on Information and Strategy, Bayo Onanuga.
According to the statement, ₦4.799 trillion has been set aside for statutory transfers, while ₦15.8 trillion will go towards servicing debt obligations. A further ₦15.4 trillion is allocated for recurrent spending, with ₦32.2 trillion earmarked for capital projects through the Development Fund.
The presidency noted that nearly half of the budget is dedicated to capital expenditure, reflecting the government’s focus on infrastructure, security, economic stability and inclusive growth.
It added that the distribution of funds aims to balance legal obligations, debt payments, daily government operations and investments needed to boost productivity and improve living standards.
The 2026 budget took effect from April 1, with full implementation already underway in line with the administration’s policy direction.
In addition, Tinubu signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the capital component of the 2025 budget by three months to June 30.
The presidency explained that the extension would help ensure proper use of allocated funds, especially for key infrastructure projects nearing completion across the country.
“It will enable Ministries, Departments, and Agencies to consolidate ongoing works, improve completion rates and ensure value for public spending,” the statement said.
Tinubu also directed Ministries, Departments and Agencies to apply strict discipline, transparency and efficiency in the use of public funds, with emphasis on timely delivery of projects.
He praised the National Assembly for what he described as its cooperation and swift passage of the budget, stressing the need for continued partnership between the executive and legislative arms.
The President further assured Nigerians of his administration’s commitment to strengthening fiscal reforms, improving revenue generation and investing in sectors that will drive economic growth, create jobs and support vulnerable citizens.
