President Bola Tinubu has signed the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion. The budget, effective from April 1, 2026, allocates ₦15.8 trillion for debt servicing and ₦4.799 trillion for statutory transfers. Recurrent expenditure is set at ₦15.4 trillion, while capital projects under the Development Fund will receive ₦32.2 trillion. Capital spending accounts for approximately 50 per cent of the total budget, reflecting a focus on infrastructure development, economic stability, national security and inclusive growth.
The President also approved an extension of the 2025 budget implementation period for capital projects, moving the deadline from March 31 to June 30, 2026. The extension allows Ministries, Departments and Agencies (MDAs) to complete ongoing projects, especially those at advanced stages, to improve fund utilisation and project completion rates. Tinubu urged MDAs to ensure disciplined and transparent use of funds, with emphasis on efficiency and timely delivery. He commended the National Assembly for the swift passage of the budget, underscoring the importance of executive-legislative collaboration in achieving national development.
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