Tinubu signs ₦68.32trn 2026 budget, extends 2025 capital spending deadline

President Bola Ahmed Tinubu has signed the 2026 Appropriation Bill into law, approving a total expenditure of ₦68.32 trillion for the fiscal year.

In a related move, the president also assented to a bill extending the implementation of the capital component of the 2025 budget from March 31 to June 30, 2026, to allow for the completion of ongoing projects.

The signing ceremony took place on Friday at the State House, Abuja, according to a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.

A breakdown of the 2026 budget shows that ₦4.799 trillion is allocated for statutory transfers, while ₦15.8 trillion is earmarked for debt servicing. Recurrent expenditure accounts for ₦15.4 trillion, with ₦32.2 trillion set aside for capital projects under the development fund.

The government said the allocation reflects a balance between statutory obligations, debt commitments, and investments in infrastructure and economic growth, with capital expenditure making up about half of the total budget.

According to the statement, the extension of the 2025 capital budget is aimed at ensuring full utilisation of funds, particularly for projects that are already at advanced stages.

It noted that the move would enable Ministries, Departments and Agencies (MDAs) to consolidate ongoing works, improve project completion rates, and achieve better value for public spending.

The administration said implementation of the 2026 budget, which took effect from April 1, would be guided by its Renewed Hope Agenda, with a focus on economic stability, national security, infrastructure development, and inclusive growth.

Tinubu also directed MDAs to ensure transparency, discipline, and efficiency in the use of public funds, stressing the need for timely delivery of projects.

He commended the National Assembly for the swift passage of the budget and called for continued cooperation between the executive and legislative arms of government to drive national development.

The president further assured Nigerians of ongoing efforts to strengthen fiscal reforms, boost revenue generation, and prioritise investments that would stimulate economic growth, create jobs, and expand social protection programmes.