President Bola Tinubu signs 68.32 trillion Naira 2026 budget, extends 2025 capital spending deadline
President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion. In a related move, he also assented to an amendment extending the implementation period for the capital component of the 2025 budget from March 31, 2026, to June 30, 2026.
The newly signed 2026 budget outlines key allocations, including ₦4.799 trillion for statutory transfers and ₦15.8 trillion dedicated to debt servicing. Recurrent (non-debt) expenditure is set at ₦15.4 trillion, while a substantial ₦32.2 trillion has been earmarked for capital expenditure through the Development Fund.
With capital spending making up roughly 50 percent of the total budget, the fiscal plan reflects the administration’s emphasis on infrastructure development, economic stability, national security, and inclusive growth. The distribution of funds highlights an attempt to balance statutory obligations, debt commitments, and investments critical to improving productivity and living standards.
The extension of the 2025 capital budget is intended to ensure full utilisation of funds, particularly for infrastructure and development projects already at advanced stages. This measure is expected to help Ministries, Departments, and Agencies (MDAs) complete ongoing projects, improve execution rates, and maximise the impact of public spending.
The 2026 Appropriation Act took effect on April 1, marking the start of full implementation under the administration’s policy framework. The President has directed MDAs to prioritise transparency, discipline, and efficiency in the use of public funds, with a focus on timely project delivery and value for money.
He also commended the National Assembly for its swift passage of the budget and stressed the importance of continued cooperation between the executive and legislative arms of government in driving national development.
Reaffirming his administration’s economic agenda, Tinubu pledged to deepen fiscal reforms, boost revenue generation, and invest in sectors that promote job creation and strengthen social protection systems.
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