TINUBU SIGNS N68.32TRN 2026 BUDGET, EXTENDS 2025 APPROPRIATION IMPLEMENTATION TO JUNE
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By ‘Sefiu Ajape
President Bola Tinubu has signed the 2026 Appropriation Bill into law, authorising a total expenditure of ₦68.32 trillion for the fiscal year.
He also approved a separate bill extending the implementation period of the 2025 budget from March 31 to June 30, 2026.
The 2026 budget provides ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing. It also allocates ₦15.4 trillion for recurrent expenditure and ₦32.2 trillion for capital expenditure through the Development Fund.
The presidency disclosed this in a statement signed by the Special Adviser on Information and Strategy, Bayo Onanuga, on Friday.
The statement read, “President Bola Ahmed Tinubu has assented to the 2026 Appropriation Bill, which provides for an aggregate expenditure of ₦68.32 trillion. He has also signed the bill extending the implementation period for the 2025 budget from March 31, 2026, to June 30, 2026.
“The N68.32 trillion budget for this year earmarks N4.799 trillion for statutory transfers and N15.8 trillion for debt service. It allocates N15.4 trillion to recurrent expenditure and N32.2 trillion to the Development Fund for Capital Expenditure.
“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.
“The allocations reflect a strategic balance between statutory obligations, debt servicing, recurrent expenditure, and capital investments critical to driving productivity and improving the quality of life for Nigerians,” it added.
The 2026 Appropriation Act took effect on April 1, with the Federal Government commencing full implementation in line with what the presidency described as the Renewed Hope Agenda.
Tinubu also signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the capital component of the 2025 budget by three months to June 30.
The presidency said the extension would ensure full utilisation of appropriated funds, especially for critical infrastructure projects at advanced stages.
“The extension will ensure the full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects that are at advanced stages of implementation across the country.
“It will enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure,” the statement read.
Tinubu directed MDAs to ensure disciplined, transparent, and efficient use of allocated resources, with emphasis on value for money and timely project delivery.
He also commended the National Assembly for what the presidency described as its “diligence, cooperation, and patriotism in expeditiously considering and passing the budget.”
“The President reaffirmed the importance of sustained collaboration between the Executive and Legislative arms of government in advancing national development objectives,” the statement noted.
Tinubu further assured Nigerians of his administration’s commitment to deepening fiscal reforms and boosting revenue generation.
“He further assured Nigerians of his administration’s resolve to deepen fiscal reforms, enhance revenue generation, and prioritise investments that will stimulate economic growth, create jobs, and strengthen social protection mechanisms,” the statement read.
The budget, titled “The Budget of Consolidation, Renewed Resilience and Shared Prosperity,” was initially presented to a joint session of the National Assembly on December 19, 2025, at ₦58.47 trillion before being revised upward to ₦68.32 trillion at the point of assent.
During the second reading debate in January, House Leader Julius Ihonvbere urged lawmakers to support the proposal, citing projections including a 3.98 per cent economic growth rate, a drop in inflation to 14.45 per cent, improved revenues, and increased foreign direct investment.
He also highlighted the stabilisation of the naira at around ₦1,400 to the dollar and a rise in Nigeria’s external reserves to about $47 billion.
When presenting the bill in December, Tinubu described it as a defining moment in Nigeria’s reform journey.
“The path of reform is seldom smooth, but it is the surest route to lasting stability and shared prosperity,” he told lawmakers.
He also pledged to end the practice of overlapping budgets and perpetual rollovers, promising improved budget execution discipline in 2026.
The budget’s key objectives include consolidating macroeconomic stability, improving the business environment, promoting job creation, and strengthening human capital development while protecting vulnerable groups.
Major 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 health.
Minister of Information Mohammed Idris had earlier described the budget as a commitment to consolidate ongoing reforms and ensure that shared prosperity becomes “a lived reality for more Nigerians, faster.”
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