Tinubu Signs 2026 Budget of ₦68.32 Trillion into Law, Extends 2025 Budget

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

He also signed a separate bill extending the implementation period of the 2025 budget from March 31 to June 30, 2026.

The presidency disclosed this in a statement issued on Friday by the Special Adviser on Information and Strategy, Bayo Onanuga.

According to the breakdown, the 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 statement said the 2026 budget reflects the administration’s focus on economic stability, infrastructure development, national security, and inclusive growth, with capital expenditure accounting for about 50 per cent of total spending.

It added that the budget is designed to balance statutory obligations, debt repayment, and investment in critical sectors to improve productivity and living standards.

The presidency also said the extension of the 2025 budget implementation would ensure full utilization of funds for ongoing infrastructure projects across the country.

It noted that Ministries, Departments and Agencies would be able to complete ongoing projects and improve value for public spending under the arrangement.

President Tinubu directed MDAs to ensure transparency, discipline, and efficiency in the use of public funds.

He also commended the National Assembly for the swift passage of the budget and reaffirmed the importance of executive-legislative cooperation in national development.

Tinubu further assured Nigerians of his administration’s commitment to fiscal reforms, improved revenue generation, job creation, and stronger social protection systems.

 

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