Nigeria’s 2026 budget takes off as Tinubu approves ₦68.32tn plan, prolongs 2025 implementation

.
President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill, which outlines a total expenditure of ₦68.

32 trillion. He also approved legislation extending the implementation period of the 2025 budget from March 31, 2026, to June 30, 2026.
The 2026 budget allocates ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing. Recurrent expenditure is set at ₦15.4 trillion, while ₦32.2 trillion is designated for the Development Fund to finance capital projects.
With capital expenditure making up roughly 50 percent of the total budget, the plan highlights the administration’s focus on economic stability, security, infrastructure development, and inclusive growth.
The distribution of funds reflects a deliberate effort to balance statutory commitments, debt obligations, recurrent spending, and key capital investments aimed at boosting productivity and enhancing the living standards of Nigerians.
In addition, the President approved the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the capital component of the 2025 Appropriation Act to June 30, 2026, from its initial deadline of March 31, 2026.
This extension is intended to ensure optimal utilisation of allocated funds, particularly for major infrastructure and development projects that are already at advanced stages nationwide.
It will also allow Ministries, Departments, and Agencies (MDAs) to complete ongoing projects, improve delivery rates, and achieve better value for public spending.
With the 2026 Appropriation Act effective from April 1, the Federal Government is set to begin full implementation in alignment with the Renewed Hope Agenda.
President Tinubu has directed MDAs to maintain strict discipline, transparency, and efficiency in managing public resources, with a strong focus on accountability and timely execution of projects.
He also praised the leadership and members of the National Assembly for their cooperation, dedication, and swift passage of the budget.
The President emphasised the need for continued collaboration between the Executive and Legislative arms to drive national development goals.
He further assured Nigerians of his administration’s commitment to strengthening fiscal reforms, improving revenue generation, and prioritising investments that will boost economic growth, create employment, and reinforce social protection systems.
Bayo Onanuga
Special Adviser to the President
(Information & Strategy)
April 17, 2026