President Bola Ahmed Tinubu has approved the N68.32 trillion 2026 Appropriation Bill, officially signing it into law.
The announcement was made by his Special Adviser on Information and Strategy, Bayo Onanuga, in a statement issued on Friday, April 17.
The budget was passed by the National Assembly of Nigeria on March 31 following the president’s request to increase the initial proposal. Tinubu had earlier presented a N58.47 trillion budget in December 2025 but later sought an upward revision of N9.81 trillion, bringing the total to N68.32 trillion.
According to Onanuga, the approved budget includes N4.79 trillion for statutory transfers, N15.8 trillion for debt servicing, N15.4 trillion for recurrent expenditure, and N32.2 trillion allocated to capital projects under the development fund.
He noted that with capital expenditure making up nearly 50 percent of the total budget, the plan reflects the administration’s focus on economic stability, national security, infrastructure growth, and inclusive development. The allocations aim to strike a balance between statutory commitments, debt obligations, and investments needed to boost productivity and improve citizens’ living standards.
In addition, President Tinubu extended the implementation period of the 2025 budget from March 31 to June 30, 2026. This follows his assent to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which allows more time for the execution of capital projects.
The extension is expected to help Ministries, Departments, and Agencies (MDAs) complete ongoing projects, improve execution rates, and ensure better value for public spending, especially for infrastructure initiatives nearing completion.
The 2026 budget took effect from April 1, with full implementation to proceed under the administration’s Renewed Hope Agenda. The president also directed MDAs to ensure transparency, discipline, and efficiency in the use of public funds, emphasizing timely delivery of projects and accountability.
Tinubu further highlighted the need for continued cooperation between the executive and legislative arms of government to achieve national development goals, while reaffirming his administration’s commitment to fiscal reforms, improved revenue generation, job creation, and stronger social protection programs.