Tinubu Assents to 2026 Budget, Extends 2025 Budget Implementation
By Admin
President Bola Ahmed Tinubu, has assented to the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion. He also signed into law an amendment extending the implementation period of the 2025 budget from March 31, 2026, to June 30, 2026.
The 2026 budget allocates ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing. Recurrent expenditure is projected at ₦15.4 trillion, while ₦32.2 trillion has been earmarked for capital expenditure under the Development Fund.
With capital spending accounting for nearly 50 percent of the total budget, the fiscal plan reflects the administration’s continued focus on economic stability, national security, infrastructure development, and inclusive growth.
The allocation framework demonstrates a deliberate balance between statutory obligations, debt commitments, recurrent spending, and strategic capital investments aimed at boosting productivity and improving the quality of life for Nigerians.
In addition, the President signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the lifespan of the capital component of the 2025 Appropriation Act to June 30, 2026.
The extension is designed to ensure full and efficient utilisation of previously approved funds, particularly for critical infrastructure and development projects at advanced stages of execution nationwide. It will enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing projects, improve completion rates, and maximise value for public expenditure.
With the 2026 Appropriation Act taking effect from April 1, the Federal Government is set to commence full implementation in line with the Renewed Hope Agenda.
President Tinubu has directed all MDAs to ensure disciplined, transparent, and efficient use of allocated resources, with a strong emphasis on value for money and timely project delivery.
He also commended the leadership and members of the National Assembly for their diligence and cooperation in the swift consideration and passage of the budget.
Reaffirming the importance of synergy between the Executive and Legislative arms, the President pledged continued collaboration in advancing national development priorities.
He 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.
