President Bola Tinubu has signed into law the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion, while also extending the implementation period of the 2025 budget to June 30, 2026.

The newly enacted budget allocates ₦4.799 trillion for statutory transfers, ₦15.8 trillion for debt servicing, and ₦15.4 trillion for recurrent expenditure.

A significant portion, ₦32.2 trillion, has been earmarked for capital projects under the Development Fund.

With capital expenditure accounting for about half of the total budget, the spending plan signals the administration’s focus on infrastructure development, economic stability, national security and inclusive growth.

In a related move, the president assented to an amendment bill extending the lifespan of the capital component of the 2025 Appropriation Act from March 31 to June 30, 2026.

The extension is intended to allow for the completion of ongoing projects that are already at advanced stages.

The federal government said the adjustment would enable Ministries, Departments, and Agencies (MDAs) to fully utilise previously allocated funds, improve project execution rates, and ensure better value for public spending.

The 2026 budget took effect from April 1, with full implementation set to proceed in line with the administration’s policy direction.

President Tinubu directed MDAs to adhere strictly to principles of transparency, fiscal discipline, and efficiency in the use of public resources, stressing the importance of timely delivery of projects.

He also commended the National Assembly for what he described as its prompt consideration and passage of the budget, noting that cooperation between the executive and legislative arms remains vital to achieving national development goals.

The president reaffirmed his administration’s commitment to ongoing fiscal reforms, improved revenue generation and strategic investments aimed at stimulating economic growth, creating jobs and strengthening social protection systems across the country.