JUST IN: Tinubu signs ₦68.32tn 2026 budget into law

….Extends 2025 capital spending deadline

President Bola Tinubu has signed into law the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion for the fiscal year, the presidency has announced.

He also assented to an amendment extending the implementation period of the capital component of the 2025 budget from March 31, 2026, to June 30, 2026.

According to a statement issued on Friday by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, the 2026 budget allocates ₦4.799 trillion for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent expenditure, and ₦32.2 trillion for capital projects under the Development Fund.

The Federal Government said the allocation of nearly 50 per cent of the budget to capital expenditure reflects the administration’s focus on economic stability, national security, infrastructure development and inclusive growth.

“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,” Onanuga said.

The extension of the 2025 capital budget is expected to allow Ministries, Departments and Agencies (MDAs) complete ongoing critical infrastructure and development projects already at advanced stages.

“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,” the statement added.

With the new Appropriation Act taking effect from April 1, the government is expected to begin full implementation in line with the Renewed Hope Agenda.

Tinubu directed all MDAs to ensure transparent, disciplined and efficient use of public funds.

“He directed MDAs to ensure disciplined, transparent, and efficient utilisation of allocated resources, with a strong emphasis on value for money and timely project delivery,” Onanuga stated.

The President also commended the National Assembly for what he described as its swift consideration and passage of the budget, while reaffirming the need for continued cooperation between the executive and legislative arms of government.

He further pledged to sustain fiscal reforms, boost revenue generation and prioritise investments aimed at economic growth, job creation and stronger social protection for Nigerians.