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From Juliana Taiwo-Obalonye, Abuja
President Bola Tinubu has assented to the 2026 Appropriation Bill, approving a massive ₦68.32 trillion expenditure framework aimed at boosting economic stability and infrastructure nationwide.
In a parallel move, he signed legislation extending the 2025 budget’s implementation from March 31 to June 30, 2026, to ensure ongoing projects reach completion.
According to a statement issued by presidential spokesman, Bayo Onanuga, the 2026 budget breaks down with ₦4.799 trillion for statutory transfers, ₦15.8 trillion for debt service, ₦15.4 trillion for recurrent expenditure, and a substantial ₦32.2 trillion, which is about 50 percent of the total budget for capital projects under the Development Fund.
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This allocation highlights the administration’s focus on “economic stability, national security, infrastructure development, and inclusive growth,” according to the State House press release.
The budget extension targets the capital component of the 2025 Appropriation Act, allowing Ministries, Departments, and Agencies (MDAs) to “consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure,” the statement noted. President Tinubu directed MDAs to prioritise “disciplined, transparent, and efficient utilisation of allocated resources, with a strong emphasis on value for money and timely project delivery.”
He praised the National Assembly, saying their “diligence, cooperation, and patriotism” expedited the process, and reaffirmed the need for “sustained collaboration between the Executive and Legislative arms of government in advancing national development objectives.”
The president also assured Nigerians of deeper fiscal reforms, better revenue generation, and investments to “stimulate economic growth, create jobs, and strengthen social protection mechanisms.”
