President Bola Tinubu has signed the N68.32 trillion 2026 Appropriation Bill into law.
This was disclosed in a statement issued on Friday, April 17, by Bayo Onanuga, the President’s Special Adviser on Information and Strategy.
The National Assembly had earlier passed the budget on March 31 following Tinubu’s request for an upward revision. The president initially presented a N58.47 trillion proposal in December 2025 but later sought an increase of N9.81 trillion, bringing the total to N68.32 trillion.
According to Onanuga, the approved budget includes N4.79 trillion for statutory transfers and N15.8 trillion for debt servicing. It also allocates N15.4 trillion for recurrent expenditure and N32.2 trillion for capital projects under the development fund.
He noted that with capital expenditure making up about half of the total budget, the plan reflects the administration’s focus on economic stability, national security, infrastructure development, and inclusive growth. The allocations, he said, strike a balance between statutory obligations, debt servicing, recurrent spending, and investments aimed at boosting productivity and improving living standards.
Onanuga also revealed that President Tinubu extended the implementation period of the 2025 budget’s capital component from March 31 to June 30, 2026, after signing an amendment bill to that effect. The extension is intended to allow for the completion of ongoing infrastructure and development projects and ensure full utilisation of allocated funds.
He added that the 2026 Appropriation Act took effect from April 1, with full implementation to proceed in line with the administration’s Renewed Hope Agenda.
The president has directed Ministries, Departments, and Agencies (MDAs) to ensure transparent, disciplined, and efficient use of funds, emphasising value for money and timely execution of projects.
Tinubu also stressed the need for continued cooperation between the executive and legislative arms of government to drive national development, while reaffirming his administration’s commitment to fiscal reforms, improved revenue generation, job creation, economic growth, and stronger social protection systems.
