President Bola Tinubu has signed the N68.32 trillion 2026 Appropriation Bill into law, marking a significant increase from the initial proposal submitted late last year.
The development was confirmed in a statement issued on Friday, April 17, by the President’s Special Adviser on Information and Strategy, Bayo Onanuga.
The National Assembly had passed the budget on March 31 following the President’s request for an upward review. Tinubu had initially presented a N58.47 trillion proposal in December 2025 but later sought an additional N9.81 trillion, bringing the total to N68.32 trillion.
According to Onanuga, the approved budget includes N4.79 trillion for statutory transfers, N15.8 trillion for debt servicing, and N15.4 trillion allocated to recurrent expenditure. A substantial N32.2 trillion has been earmarked for capital expenditure 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.
“The allocations reflect a strategic balance between statutory obligations, debt servicing, recurrent expenditure, and capital investments critical to driving productivity and improving the quality of life for Nigerians.”
In addition to signing the 2026 budget, President Tinubu also approved an extension of the implementation period for the capital component of the 2025 Appropriation Act from March 31 to June 30, 2026.
Onanuga explained that the extension would allow Ministries, Departments, and Agencies (MDAs) to complete ongoing projects and ensure full utilisation of allocated funds, particularly for critical infrastructure initiatives already at advanced stages.
The 2026 Appropriation Act took effect from April 1, with full implementation set to proceed in line with the administration’s Renewed Hope Agenda.
The President further directed MDAs to ensure disciplined, transparent, and efficient use of public funds, stressing the importance of value for money and timely project delivery.
Tinubu also reaffirmed the need for continued collaboration between the executive and legislative arms of government, while assuring Nigerians of his administration’s commitment to fiscal reforms, improved revenue generation, job creation, and strengthened social protection programmes.