President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill, setting a record federal budget of ₦68.32 trillion and reaffirming his administration’s commitment to economic stability, infrastructure development, and inclusive growth.
The newly assented budget provides ₦4.799 trillion for statutory transfers, ₦15.8 trillion for debt servicing, and ₦15.4 trillion for recurrent expenditure, while a substantial ₦32.2 trillion has been allocated to capital projects through the Development Fund.
With capital expenditure accounting for nearly 50 per cent of the total budget, the 2026 fiscal plan signals a strong emphasis on infrastructure and development initiatives aimed at boosting productivity and improving the quality of life for Nigerians.
In a related development, the President also signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the implementation period for the capital component of the 2025 budget from March 31 to June 30, 2026.
The extension is expected to ensure the effective utilisation of funds, particularly for key infrastructure projects already at advanced stages across the country.
According to the presidency, the extension will enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing projects, improve completion rates, and maximise value for public spending.
The 2026 Appropriation Act, which took effect from April 1, will now be fully implemented in line with the administration’s Renewed Hope Agenda.
Tinubu directed all MDAs to ensure disciplined, transparent, and efficient use of public funds, stressing the need for accountability, value for money, and timely delivery of projects.
He also commended the National Assembly for its swift consideration and passage of the budget, describing the lawmakers’ efforts as a demonstration of patriotism and commitment to national development.
The President further emphasised the importance of continued collaboration between the executive and legislative arms of government in achieving national development goals.
Reassuring Nigerians, Tinubu pledged to deepen ongoing fiscal reforms, improve revenue generation, and prioritise investments that will stimulate economic growth, create jobs, and strengthen social protection systems.
