President Tinubu Signs N68 trillion 2026 Appropriation Bill, Extends 2025 Budget to June
President Bola Tinubu has formally enacted the 2026 Appropriation Bill, authorising a total expenditure of ₦68.32 trillion for the present fiscal year. Additionally, the President has announced an...
President Bola Tinubu has formally enacted the 2026 Appropriation Bill, authorising a total expenditure of ₦68.32 trillion for the present fiscal year. Additionally, the President has announced an extension of the 2025 budget’s implementation period from March 31 to June 30, 2026.
This is contained in a statement issued by Mr Bayo Onanuga, the special adviser on information and strategy, to the President, on Friday, stating that the 2026 appropriation bill has become effective on the 1st of April 2026.
According to the statement, the budget allocates ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt service. It also sets aside ₦15.4 trillion for recurrent expenditure and ₦32.2 trillion for capital expenditure through the Development Fund.
According to him, the extension of the 2025 budget was to ensure full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects that are at advanced stages of implementation across the country.
“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.
“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.
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.
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.
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.”
Mr Onanuga further stated that the President commended the lawmakers for their cooperation in considering and passing the budget.
“The President reaffirmed the importance of sustained collaboration between the executive and legislative arms of government in advancing national development objectives. He further 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,” the statement reads.
President Tinubu, in December 2025, presented a ₦58.18 trillion 2026 budget to the National Assembly, with the pledge to end overlapping budgets and strengthen security through disciplined implementation next year.
Themed “Budget of Consolidation, Renewed Resilience and Shared Prosperity”, the president at the time said the bill would help stabilise his reforms, adding that by March 31 2026, all the overlapping budgets would be terminated, and the country would run a single budget from April this year.
However, in March 2026, the President wrote a letter to the National Assembly to approve the increase of N9 trillion as the adjustment to the 2026 appropriation bill, noting that it was aimed at strengthening fiscal transparency and ensuring effective implementation of priority national programmes.
With the approval of the 2026 budget and the extension of the 2025 budget to June 2026, the two budgets are expected to be operating simultaneously within the said period of time.
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