President Bola Tinubu on Friday signed the 2026 Appropriation Bill into law, approving a total expenditure of ₦68.32 trillion for the fiscal year.
In a related move, he also assented to an amendment extending the lifespan of the 2025 budget’s capital component.
Initially due to lapse on 31 March 2026, the implementation period has now been pushed to 30 June 2026, giving ongoing projects more time to reach completion.
The 2026 budget places strong emphasis on infrastructure and long-term development, with capital expenditure accounting for nearly half of the total outlay.
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The breakdown included capital expenditure of ₦32.2 trillion, debt service of ₦15.8 trillion, recurrent expenditure of ₦15.4 trillion, and statutory transfers of ₦4.799 trillion.
According to the Presidency, the significant allocation to capital projects reflects the administration’s commitment to improving national security, stabilising the economy, and upgrading critical infrastructure under its Renewed Hope Agenda.
The three-month extension of the 2025 budget cycle is aimed at preventing the abandonment of key projects already underway.
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By shifting the deadline to June, the government intends to give Ministries, Departments and Agencies (MDAs) sufficient time to complete existing work and ensure proper value for public spending.
With the 2026 budget taking effect from 1 April, the President has directed all MDAs to maintain strict discipline in the use of public funds.
Presidential spokesman Bayo Onanuga said the directive emphasised transparency, efficiency, and timely delivery of projects, with a clear focus on value for money.
Tinubu also commended the National Assembly for what he described as its patriotism and swift handling of the budget.
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He stressed that continued cooperation between the executive and legislature remains vital to achieving the country’s development goals.
