President Bola Ahmed Tinubu has signed the 2026 Appropriation Bill into law, authorising a total expenditure of ₦68.32 trillion for the fiscal year. This marks the first time Nigeria's annual budget exceeds ₦60 trillion. The breakdown shows ₦32.2 trillion allocated to capital expenditure, representing about 47% of the total budget and signifying a focus on infrastructure and long-term development projects. Other allocations include ₦15.4 trillion for recurrent expenditure, ₦15.8 trillion for debt service, and ₦4.799 trillion for statutory transfers. Alongside the 2026 budget, Tinubu signed a bill extending the implementation of the 2025 budget from March 31, 2026, to June 30, 2026. The extension is intended to give Ministries, Departments and Agencies (MDAs) additional time to fully utilise funds from the current fiscal cycle. The Presidency stated that the 2026 budget reflects the administration's strategy for economic recovery, improved public service delivery, and infrastructure expansion, despite growing debt obligations. The Ministry of Budget and Economic Planning is expected to release further details on sectoral allocations and implementation frameworks in the coming days.
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