President Bola Tinubu has signed into law the ₦68.32 trillion 2026 Appropriation Bill, marking a significant expansion of Nigeria’s fiscal framework as the government intensifies efforts to drive economic growth and infrastructure development.
The President also approved an extension of the 2025 budget implementation period from March 31 to June 30, 2026, to allow Ministries, Departments, and Agencies (MDAs) complete ongoing capital projects.
Details of the new budget show ₦4.799 trillion allocated for statutory transfers, ₦15.8 trillion for debt servicing, and ₦15.4 trillion for recurrent expenditure. A substantial ₦32.2 trillion has been earmarked for capital expenditure, representing nearly half of the total budget.
According to the presidency, the budget reflects a strategic balance between meeting statutory obligations and investing in projects critical to economic productivity and national development.
“The allocations underscore the administration’s commitment to economic stability, infrastructure development, national security, and inclusive growth,” a statement by presidential spokesman Bayo Onanuga said.
The 2026 budget, which took effect on April 1, is aligned with the government’s Renewed Hope Agenda and focuses on consolidating macroeconomic stability, improving the investment climate, and promoting job creation.
President Tinubu directed MDAs to ensure disciplined and transparent use of funds, emphasizing value for money and timely project delivery.
He also commended the National Assembly for what he described as its “diligence and cooperation” in passing the budget, stressing the importance of sustained collaboration between the executive and legislative arms of government.
The extension of the 2025 budget, the presidency noted, is aimed at maximising the utilisation of allocated funds, particularly for infrastructure projects already at advanced stages.
Originally presented at ₦58.47 trillion in December 2025, the budget was revised upward during legislative review before receiving final approval.
Key sectoral allocations include ₦5.41 trillion for defence and security, ₦3.56 trillion for infrastructure, ₦3.52 trillion for education, and ₦2.48 trillion for healthcare.
The government says it will continue to pursue fiscal reforms, boost revenue generation, and prioritise investments that support economic growth, job creation, and social protection.
