President Bola Tinubu has assented to the 2026 Appropriation Bill, approving an aggregate expenditure of N68.32 trillion. This significant legislative action, announced in a State House press release on Friday, marks a pivotal step in the Federal Government’s fiscal strategy for the upcoming year. Alongside the budget approval, President Tinubu also signed into law a bill extending the implementation period for the capital component of the 2025 budget from March 31, 2026, to June 30, 2026.

According to details provided by Presidential spokesperson Bayo Onanuga, the newly approved 2026 budget allocates N4.799 trillion for statutory transfers and N15.8 trillion for debt service. Recurrent expenditure is set at N15.4 trillion, while a substantial N32.2 trillion is dedicated to the Development Fund for Capital Expenditure. With capital expenditure accounting for approximately 50 percent of the total budget, the administration underscores its continued commitment to key national priorities such as economic stability, national security, infrastructure development, and inclusive growth. This strategic allocation aims to strike a balance between statutory obligations, debt servicing, recurrent needs, and critical capital investments designed to drive productivity and improve the quality of life for Nigerians.

The full implementation of the 2026 Appropriation Act is scheduled to commence on April 1, 2026, in line with the administration’s Renewed Hope Agenda. President Tinubu has issued a clear directive to all Ministries, Departments, and Agencies (MDAs) to ensure disciplined, transparent, and efficient utilization of their allocated resources. This directive places a strong emphasis on achieving value for money and ensuring the timely delivery of projects.

The extension of the 2025 Appropriation Act’s capital component is designed to ensure the full and effective utilization of appropriated funds, particularly for critical infrastructure and development projects that are already at advanced stages of implementation across the country. This measure will enable MDAs to consolidate ongoing works, enhance project completion rates, and maximize the value derived from public expenditure.

President Tinubu commended the leadership and members of the National Assembly for their diligence, cooperation, and patriotism in expeditiously considering and passing the budget. He reaffirmed the importance of sustained collaboration between the Executive and Legislative arms of government in advancing national development objectives. Furthermore, the President assured Nigerians of his administration’s unwavering resolve to deepen fiscal reforms, enhance revenue generation, and prioritize investments that will stimulate economic growth, create jobs, and strengthen social protection mechanisms.