…Extends 2025 Budget
President Bola Tinubu has signed the 2026 Appropriation Bill into law, approving a total budget of ₦68.32 trillion.
The President also assented to a separate Bill extending the implementation period of the 2025 budget from March 31, 2026, to June 30, 2026.
According to a statement issued yesterday by his Senior Special Assistant on Information and Strategy, Bayo Onanuga, the 2026 Budget provides ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing, while recurrent expenditure is projected at ₦15.4 trillion. A total of ₦32.2 trillion has been allocated to capital expenditure through the Development Fund.
The budget, which dedicates a significant portion to capital projects, underscores the administration’s focus on economic stability, national security, infrastructure development, and inclusive growth.
The President also signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the capital component of the 2025 Budget to June 30 to allow for the completion of ongoing infrastructure and development projects.
The extension is expected to enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing work, improve project delivery timelines, and ensure better value for public spending. With the 2026 Budget taking effect from April 1, the Federal Government is set to commence full implementation in line with its policy agenda.
Tinubu directed MDAs to uphold transparency, fiscal discipline, and efficiency in the utilisation of public funds, with emphasis on value for money and timely execution of projects. He also commended the 10th National Assembly for the prompt consideration and passage of the Budget, highlighting the importance of sustained collaboration between the executive and legislative arms of government.
The President reaffirmed his administration’s commitment to strengthening fiscal reforms, enhancing revenue generation, and prioritising investments aimed at driving economic growth, job creation, and social protection.
