By Ejire Folakunmi
President Bola Tinubu has assented to the 2026 Appropriation Bill, which provides for an aggregate expenditure of ₦68.32 trillion. He also signed a bill extending the implementation period for the 2025 budget’s capital component from March 31, 2026, to June 30, 2026.
A statement by Bayo Onanuga, Special Adviser to the President on Information and Strategy, said the ₦68.32 trillion budget earmarks ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt service.
It allocates ₦15.4 trillion to recurrent expenditure and ₦32.2 trillion to the Development Fund for capital expenditure.
With capital expenditure making up about 50 per cent, the 2026 budget reflects the administration’s commitment to economic stability, national security, infrastructure development, and inclusive growth.
The allocations balance statutory obligations, debt servicing, recurrent spending, and capital investments critical to driving productivity and improving living standards.
The Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extends the 2025 capital budget implementation to ensure full utilisation of funds, particularly for critical infrastructure and development projects at advanced stages nationwide.
President Tinubu directed MDAs to ensure disciplined, transparent, and efficient use of allocated resources, with emphasis on value for money and timely project delivery.
He commended the National Assembly’s leadership and members for their diligence and patriotism in expeditiously passing the budget.
He also reaffirmed his administration’s resolve to deepen fiscal reforms, enhance revenue generation, and prioritise investments that stimulate growth, create jobs, and strengthen social protection.