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President Bola Ahmed Tinubu on Friday approved the 2026 Appropriation Bill, which sets aggregate expenditure at ₦68.32 trillion.
He has also signed a 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 allocates N4.799 trillion for statutory transfers and N15.8 trillion for debt servicing.
The government allocated N15.4 trillion for routine expenditure and N32.2 trillion for the Development Fund for Capital Expenditure, with capital expenditure accounting for about 50 percent.
In addition, the President has also approved the Appropriation (Repeal and Enactment) (Amendment) Bill 2026 which extends the implementation period for the capital component of the Appropriation Act 2025 from March 31, 2026 to June 30, 2026.
This extension, according to the presidency, will ensure full and effective utilization of allocated funds, especially for important infrastructure and development projects that are at advanced stages of implementation across the country.
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Bayo Onanuga, Special Advisor to the President (Information & Strategy) stated that, “This will enable Ministries, Departments and Agencies (MDAs) to consolidate ongoing work, increase project completion rates and maximize the value of public spending.
“With the enactment of the 2026 Appropriation Act on April 1, the Federal Government will begin full implementation in line with the New Hope Agenda.”
He disclosed that President Tinubu directed MDAs to ensure disciplined, transparent and efficient utilization of allocated resources, with strong emphasis on value for money and timely completion of projects.
He commended the leadership and members of the National Assembly for their perseverance, cooperation and patriotism in quickly considering and approving the budget.
The President reiterated the importance of continuous collaboration between the executive and legislative institutions in achieving national development goals.
