Tinubu Signs 2026 Budget, Extends 2025 Spending Deadline

President Bola Tinubu yesterday assented to the 2026 Appropriation Bill which provides for an aggregate expenditure of N68.32 trillion.

He has also signed the bill extending the implementation period for the 2025 budget from March 31, 2026 to June 30, 2026.

According to a statement by presidential spokesman, Bayo Onanuga, the N68.32 trillion budget for this year earmarked N4.799 trillion for statutory transfers and N15.8 trillion for debt services.

It allocated  N15.4 trillion to recurrent expenditure and N32.2 trillion to the development fund for capital expenditure.

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.

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, the statement said.

Additionally, the president 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 said the extension would 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.

He said it would enable Ministries, Departments and Agencies (MDAs) to consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure.

With the 2026 Appropriation Act coming into force on April 1, the federal government will commence full implementation in line with the Renewed Hope Agenda, the statement added.

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.