President Bola Ahmed Tinubu has signed the 2026 Appropriation Bill into law, approving a total expenditure of ₦68.32 trillion for the fiscal year, in a move that sets the financial direction for the country’s economic activities and government operations.
Alongside this, the President also approved an amendment extending the implementation period of the 2025 budget, shifting its deadline from March 31 to June 30, 2026. The extension is intended to allow for the completion of ongoing projects, particularly those at advanced stages, and to ensure that allocated funds are fully utilised.
A breakdown of the 2026 budget shows that ₦4.799 trillion has been earmarked for statutory transfers, while ₦15.8 trillion will go toward servicing existing debt obligations. Recurrent expenditure, which covers salaries, overheads, and the day-to-day running of government, is set at ₦15.4 trillion. Meanwhile, a significant ₦32.2 trillion has been allocated to capital expenditure through the Development Fund, reflecting a strong focus on infrastructure and long-term investments.
With capital spending accounting for roughly half of the total budget, the fiscal plan highlights the administration’s emphasis on driving economic growth through infrastructure development, improving national security, and promoting inclusive growth across sectors. The allocation structure is designed to balance immediate government responsibilities with investments aimed at boosting productivity and enhancing the overall quality of life for citizens.
The 2026 Appropriation Act officially took effect on April 1, with full implementation already underway. Government ministries, departments, and agencies have been directed to ensure prudent and transparent use of public funds, with a clear focus on efficiency, accountability, and timely project execution.
The extension of the 2025 budget is expected to strengthen project completion rates by giving implementing agencies more time to finalise critical initiatives. It also aims to maximise the value derived from public spending, particularly in infrastructure and development projects that are key to economic expansion.
The President also acknowledged the role of the National Assembly in the timely consideration and passage of the budget, stressing the importance of continued collaboration between both arms of government in achieving national development goals.
Reaffirming his administration’s economic agenda, Tinubu emphasised ongoing efforts to deepen fiscal reforms, improve revenue generation, and prioritise investments that can stimulate growth, create employment opportunities, and expand social protection programmes for Nigerians.
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