Yemi Obafemi
President Bola Ahmed Tinubu has signed the 2026 Appropriation Act into law, approving a total budget of ₦68.32 trillion, while also extending the implementation of the 2025 budget to June 30, 2026.
The statement, signed by Bayo Onanuga, Special Adviser to the President on Information and Strategy, confirmed that the extension shifts the deadline for the 2025 budget from March 31, allowing Ministries, Departments and Agencies (MDAs) more time to complete ongoing capital projects.
Breakdown of the 2026 budget shows ₦4.799 trillion allocated for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent expenditure, and ₦32.2 trillion earmarked for capital projects under the development fund.
The presidency said the nearly 50 per cent allocation to capital expenditure reflects the administration’s focus on infrastructure development, economic stability, national security and inclusive growth.
It noted that the extension of the 2025 capital spending window is intended to ensure optimal use of funds, particularly for projects nearing completion, and to improve overall delivery rates.
“With the 2026 Appropriation Act coming into force on April 1, the Federal Government will commence full implementation,” the statement said.
Tinubu directed MDAs to ensure prudent and transparent use of public funds, stressing the need for efficiency, value for money and timely execution of projects.
He also commended the National Assembly for what he described as its swift consideration and passage of the budget, highlighting the importance of continued cooperation between both arms of government.
The president reaffirmed his administration’s commitment to fiscal reforms, improved revenue generation and investments aimed at stimulating economic growth, job creation and strengthening social protection programmes.
