President Bola Tinubu has signed the 2026 Appropriation Bill into law, authorising an aggregate expenditure of N68.32 trillion for the current fiscal year.
The president also signed a bill extending the implementation period of the capital component of the 2025 budget from March 31 to June 30.
This is contained in a statement issued by Presidential Spokesperson, Mr Bayo Onanuga, on Friday in Abuja.
According to Onanuga, the 2026 budget provides N4.799 trillion for statutory transfers and N15.8 trillion for debt servicing obligations.
It also allocates N15.4 trillion to recurrent expenditure and N32.2 trillion to the Development Fund for capital projects.
With capital expenditure accounting for about 50 per cent of total spending, the budget reflects priority for infrastructure and productivity growth.
Onanuga said the fiscal plan underscored the administration’s commitment to economic stability, national security and inclusive development.
He added that the allocations balanced statutory obligations, debt servicing, recurrent spending and strategic investments.
Tinubu also assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the lifespan of the 2025 capital vote.
The extension, according to the Presidency, will ensure full utilisation of appropriated funds for critical projects already at advanced stages nationwide.
It said that Ministries, Departments and Agencies (MDAs) would use the extra period to consolidate ongoing works and improve project completion rates.
With the 2026 Appropriation Act taking effect from April 1, the Federal Government is expected to begin full implementation immediately.
Tinubu directed MDAs to ensure disciplined, transparent and efficient use of public resources, stressing the need for value for money and timely delivery of projects across sectors.
The president commended the leadership and members of the National Assembly for the speedy consideration and passage of the budget.
He reaffirmed the importance of sustained cooperation between the executive and legislative arms in advancing development goals.
Tinubu also assured Nigerians of continued fiscal reforms, stronger revenue generation and investments to create jobs and expand social protection.
