President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill, approving a total budget of ₦68.32 trillion for the fiscal year.
The President also approved an extension of the 2025 budget implementation, shifting the deadline from March 31 to June 30, 2026, to allow for the completion of ongoing projects.
According to a statement by his aide, Bayo Onanuga, the new budget allocates ₦4.799 trillion for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent expenditure, and ₦32.2 trillion for capital projects.
With about half of the budget dedicated to capital expenditure, the plan prioritises infrastructure, security, and economic growth.
The extension of the 2025 budget is also aimed at ensuring full utilisation of funds and improving project completion across Ministries, Departments, and Agencies.
The 2026 budget, which took effect from April 1, will be implemented under the administration’s Renewed Hope Agenda, with a strong focus on transparency, efficiency, and value for money.
President Tinubu also commended the National Assembly for the swift passage of the budget and reaffirmed his commitment to fiscal reforms, revenue growth, job creation, and social protection for Nigerians.