By Muhammed Abubakar, Reporting
PRESIDENT Bola Tinubu has signed the 2026 Appropriation Bill into law, authorising aggregate federal spending of N68.32 trillion for the current fiscal year, Stonix News reports.
In a separate but concurrent move, the President also gave his assent to legislation extending the implementation period of the 2025 budget from 31 March to 30 June 2026.
The 2026 budget allocates N4.799 trillion for statutory transfers and N15.8 trillion for debt servicing. It further sets aside N15.4 trillion for recurrent expenditure and N32.2 trillion for capital expenditure through the Development Fund.
The presidency disclosed this on Friday in a statement signed by the Special Adviser on Information and Strategy, Bayo Onanuga.
“President Bola Ahmed Tinubu has assented to the 2026 Appropriation Bill, which provides for an aggregate expenditure of N68.32 trillion. He has also signed the bill extending the implementation period for the 2025 budget from March 31, 2026, to June 30, 2026,” the statement read.
“The N68.32 trillion budget for this year earmarks N4.799 trillion for statutory transfers and ₦15.8 trillion for debt service. It allocates N15.4 trillion to recurrent expenditure and N32.2 trillion to the Development Fund for Capital Expenditure.
“With capital expenditure accounting for about 50 per cent, the 2026 budget underscores the administration’s continued commitment to economic stability, national security, infrastructure development, and inclusive growth.
“The allocations reflect a strategic balance between statutory obligations, debt servicing, recurrent expenditure, and capital investments critical to driving productivity and improving the quality of life for Nigerians,” it added.
The 2026 Appropriation Act took effect on 1 April, with the Federal Government commencing full implementation in line with what the presidency describes as the Renewed Hope Agenda.
President Tinubu also assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the capital component of the 2025 Appropriation Act by three months to 30 June.
According to the presidency, the extension will ensure the full utilisation of appropriated funds, particularly for critical infrastructure projects at advanced stages of implementation across the country.
“It will enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure,” the statement read.
Mr Tinubu directed MDAs to ensure disciplined, transparent and efficient utilisation of allocated resources, with strong emphasis on value for money and timely project delivery.
He commended the leadership and members of the National Assembly for what the presidency described as their “diligence, cooperation, and patriotism in expeditiously considering and passing the budget.”
“The President reaffirmed the importance of sustained collaboration between the Executive and Legislative arms of government in advancing national development objectives,” the statement noted.
Mr Tinubu also assured Nigerians of his administration’s resolve to deepen fiscal reforms and boost revenue generation.
“He further assured Nigerians of his administration’s resolve to deepen fiscal reforms, enhance revenue generation, and prioritise investments that will stimulate economic growth, create jobs, and strengthen social protection mechanisms,” the statement read.
The budget, titled “The Budget of Consolidation, Renewed Resilience and Shared Prosperity,” was originally presented to a joint session of the National Assembly on 19 December 2025 at a proposed sum of N58.47 trillion.
What's your reaction?
