President Bola Tinubu has assented to the 2026 Appropriation Bill, approving a total expenditure of ₦68.32tn for the fiscal year.
The Presidency disclosed this in a statement on Friday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.
According to the statement, the budget provides ₦4.799tn for statutory transfers, ₦15.8tn for debt servicing, ₦15.4tn for recurrent expenditure and ₦32.2tn for capital projects under the Development Fund.
Tinubu also approved an amendment extending the implementation of the capital component of the 2025 budget from March 31, 2026, to June 30, 2026.
The government said the extension would enable Ministries, Departments and Agencies to complete ongoing infrastructure and development projects already at advanced stages.
“With capital expenditure accounting for about 50 per cent, the 2026 budget underscores the administration’s continued commitment to economic stability, national security, infrastructure development and inclusive growth,” Onanuga stated.
He added that the extension of the 2025 capital budget would ensure optimal utilisation of funds earmarked for key projects across the country.
The new Appropriation Act takes effect from April 1, with full implementation expected to commence immediately.
The President directed all MDAs to ensure prudent and transparent use of public funds, stressing the importance of value for money and timely execution of projects.
“He directed MDAs to ensure disciplined, transparent and efficient utilisation of allocated resources,” the statement noted.
Tinubu also commended the National Assembly for the timely passage of the budget and called for sustained collaboration between the executive and legislative arms.
He reaffirmed his administration’s commitment to fiscal reforms, improved revenue generation, job creation and enhanced social protection for Nigerians.
