Tinubu Signs ₦68.32tn 2026 Budget, Extends 2025 Spending Deadline to June

President Bola Ahmed Tinubu has signed the 2026 Appropriation Bill into law, authorising an aggregate federal expenditure of ₦68.32 trillion for the fiscal year.

The President also assented to a separate amendment bill extending the implementation period of the 2025 budget from March 31 to June 30, 2026, to allow the completion of ongoing capital projects.

The development was disclosed in a statement issued on Friday by the Special Adviser to the President on Information and Strategy, Bayo Onanuga.

According to the statement, the 2026 Appropriation Act outlines a detailed spending structure aimed at strengthening economic stability, supporting infrastructure development, and promoting inclusive growth.

The budget provides ₦4.799 trillion for statutory transfers and allocates ₦15.8 trillion for debt servicing. It also earmarks ₦15.4 trillion for recurrent expenditure, while ₦32.2 trillion has been set aside for capital projects through the Development Fund.

“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 statement said.

It added that the allocations represent a strategic balance between statutory obligations, debt servicing, government operations, and investment in projects designed to boost productivity and improve the living standards of Nigerians.

The Presidency noted that the 2026 Appropriation Act took effect from April 1, with the Federal Government commencing full implementation in line with the administration’s policy direction under the Renewed Hope Agenda.

In addition to the new budget, President Tinubu signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the capital component of the 2025 Appropriation Act by three months.

According to the Presidency, the extension will ensure that Ministries, Departments, and Agencies (MDAs) complete ongoing infrastructure and development projects that are already at advanced stages of execution.

“The extension will ensure the full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects across the country,” the statement said.

“It will enable MDAs to consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure.”

President Tinubu also directed MDAs to ensure disciplined, transparent, and efficient utilisation of allocated resources, stressing the need for strict adherence to value-for-money principles and timely project delivery.

He commended the leadership and members of the National Assembly of Nigeria for what the Presidency described as their diligence and cooperation in the expeditious passage of the budget.

“The President reaffirmed the importance of sustained collaboration between the Executive and Legislative arms of government in advancing national development objectives,” the statement noted.

Tinubu further assured Nigerians that his administration would continue to deepen fiscal reforms, improve revenue generation, and prioritise investments that stimulate economic growth, create jobs, and strengthen social protection programmes across the country.