The 2026 Appropriations Bill, which authorizes an overall expenditure of ₦68.32 trillion for the current fiscal year, was signed into law by President Bola Tinubu. Additionally, he signed a different bill that extended the implementation period of the 2025 budget from March 31 to June 30, 2026. The budget allots ₦15.8 trillion for debt service and ₦4.799 trillion for statutory transfers. Additionally, it allocates ₦32.2 trillion for capital expenditures through the Development Fund and ₦15.4 trillion for ongoing expenses.
The information was revealed by the presidency on Friday in a statement signed by Bayo Onanuga, Special Advisor on Information and Strategy.
"President Bola Ahmed Tinubu has assented to the 2026 Appropriations Bill, which provides for an aggregate expenditure of ₦68.32 trillion," the statement said.
Additionally, he signed a bill that extended the 2025 budget's implementation time from March 31, 2026, to June 30, 2026.
This year's N68.32 trillion budget includes N15.8 trillion for debt service and N4.799 trillion for statutory transfers. It allots N32.2 trillion to the Development Fund for Capital Expenditure and N15.4 trillion to ongoing expenses.
The 2026 budget highlights the administration's ongoing commitment to infrastructure development, inclusive growth, national security, and economic stability, with capital expenditures making up over half of the total.
It further stated, "The allocations reflect a strategic balance between statutory obligations, debt servicing, recurring expenditure, and capital investments critical to driving productivity and improving the quality of life for Nigerians."
In accordance with what the president refers to as the Renewed Hope Agenda, the Federal Government began full implementation of the 2026 Appropriations Act on April 1. Additionally, Tinubu approved the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the 2025 Appropriation Act's capital component by three months, until June 30.
According to the presidency, the extension would ensure that all approved funds are utilized, particularly for critical infrastructure projects that are nearing completion.
"The extension would guarantee the full and efficient use of granted funds, especially for vital infrastructure and development projects that are in advanced stages of implementation nationwide.
According to the statement, "it will enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing works, enhance project completion rates, and maximize value for public expenditure."
Tinubu gave MDAs instructions to make sure that allotted resources are used in a disciplined, transparent, and effective manner, with a focus on timely project delivery and value for money.
He praised the National Assembly's leadership and members for their "diligence, cooperation, and patriotism in expeditiously considering and passing the budget," according to the presidency.
According to the statement, "the President reaffirmed the importance of sustained collaboration between the Executive and Legislative arms of government in advancing national development objectives."
Additionally, Tinubu reassured Nigerians of his administration's commitment to strengthening fiscal reforms and increasing revenue.
According to the release, "He further assured Nigerians of his administration's resolve to deepen fiscal reforms, enhance revenue generation, and prioritize investments that will stimulate economic growth, create jobs, and strengthen social protection mechanisms."