The implementation of the ₦68.32 trillion 2026 budget can now go full throttle after President Bola Tinubu on Friday assented to the Appropriation Bill recently passed by the National Assembly.
Similarly, the President signed into law an amendment extending the implementation period of the 2025 Appropriation Act from March 31 to June 30, 2026.
This is to allow for the completion of ongoing capital projects across the country.
A breakdown of the 2026 budget shows that ₦4.799 trillion is earmarked for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent expenditure, while a significant ₦32.2 trillion is allocated to capital expenditure under the Development Fund.
With capital spending accounting for about 50 per cent of the total budget, the fiscal plan underscores the administration’s focus on infrastructure development, national security, and productivity-driven investments aimed at improving the quality of life of Nigerians.
Throwing light on the signing of the bills, Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, said the extension of the 2025 budget would ensure the “full and effective utilisation of appropriated funds,” particularly for critical infrastructure projects already at advanced stages of completion.
The move is expected to enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing works, improve project delivery timelines, and maximise value for public expenditure.
The 2026 Appropriation Act, which took effect from April 1, signals the commencement of a new fiscal cycle aligned with the administration’s Renewed Hope Agenda.
President Tinubu directed all MDAs to ensure disciplined, transparent, and efficient use of public funds, stressing the need for strict adherence to value-for-money principles and timely execution of projects.
He commended the leadership and members of the National Assembly for what he described as their diligence, cooperation, and patriotism in the expeditious consideration and passage of the budget.
The President also reaffirmed the importance of sustained collaboration between the Executive and Legislative arms of government in driving national development objectives.
Assuring Nigerians of his administration’s commitment to fiscal discipline, Tinubu pledged to deepen ongoing reforms, boost revenue generation, and prioritise investments that would stimulate economic growth, create jobs, and strengthen social protection systems.
