Manny Ita –
President Bola Ahmed Tinubu has signed the 2026 Appropriation Bill into law, approving a total expenditure of ₦68.32 trillion and extending the implementation 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 ₦32.2 trillion has been set aside for capital projects under the Development Fund, reflecting the administration’s focus on infrastructure and economic growth.
With capital expenditure making up about half of the total budget, the plan emphasizes national security, economic stability, and inclusive development. According to the presidency, the allocations are designed to balance statutory obligations, debt commitments, and investments aimed at boosting productivity and improving citizens’ quality of life.
Alongside the new budget, President Tinubu also approved an amendment extending the lifespan of the 2025 Appropriation Act. The extension is intended to allow Ministries, Departments, and Agencies (MDAs) to complete ongoing infrastructure projects and ensure full utilization of allocated funds.
The president directed MDAs to maintain discipline, transparency, and efficiency in spending, stressing the importance of value for money and timely project delivery. He also praised the National Assembly for its swift passage of the budget and reaffirmed the need for continued cooperation between the executive and legislative arms of government.
Reiterating his administration’s priorities, Tinubu assured Nigerians of ongoing fiscal reforms, improved revenue generation, and targeted investments to stimulate economic growth, create jobs, and strengthen social protection systems.
