Tinubu assents to ₦68.3trn 2026 Appropriation Bill, approves 2025 budget extension
President Tinubu has approved the ₦68.32 trillion 2026 Appropriation Act.
With nearly half of the budget ₦32.2 trillion earmarked for capital expenditure, the plan underscores a heavy focus on infrastructure.
As confirmed by presidential aide Bayo Onanuga in a statement given to Persecondnews on Friday, the act also sets aside ₦15.8 trillion for debt management and ₦15.4 trillion for the government’s daily operational costs (recurrent expenditure).
2026 Budget Breakdown:
Capital Projects: ₦32.2 trillion (Development Fund)
Debt Service: ₦15.8 trillion
Recurrent Expenditure: ₦15.4 trillion
Statutory Transfers: ₦4.79 trillion
“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,” Onanuga said.
“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.”
In a related department, President Tinubu has approved an extension of the 2025 budget implementation period from the original March 31 deadline to June 30.
This adjustment specifically targets the capital component to allow ongoing projects to reach completion.
“Additionally, the President has assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the implementation period of the capital component of the 2025 Appropriation Act from March 31, 2026, to June 30, 2026,” Onanuga stated.
“The extension will ensure the full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects that are 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 2026 budget officially took effect on April 1, with full implementation now underway in line with the Renewed Hope Agenda.
President Tinubu has directed all ministries, departments and agencies to apply the highest standards of discipline, transparency and efficiency in spending the allocated funds.
“President Tinubu directed MDAs to ensure disciplined, transparent, and efficient utilisation of allocated resources, with a strong emphasis on value for money and timely project delivery,” the spokesperson added.
Onanuga noted that the President continues to place great importance on close collaboration between the executive and legislative arms to fast-track national development.
“The President also 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.”
