President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill, approving a massive ₦68.32 trillion budget aimed at driving economic growth, strengthening security, and accelerating infrastructure development.
In a related move, the President also extended the implementation of the 2025 budget, shifting the deadline from March 31 to June 30, 2026—effectively granting Ministries, Departments, and Agencies (MDAs) an additional three months to complete ongoing projects.
The newly approved budget outlines ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing, reflecting the government’s continued effort to meet financial obligations while sustaining public sector operations.
Recurrent expenditure is pegged at ₦15.4 trillion, while a significant ₦32.2 trillion—nearly half of the entire budget—has been allocated to capital projects under the Development Fund. The heavy tilt toward capital spending signals a strong push toward infrastructure expansion and long-term economic productivity.
According to the Presidency, the spending framework is designed to strike a balance between fiscal responsibilities and growth-focused investments, with priority areas including economic stability, national security, and inclusive development.
The President also signed the Appropriation (Amendment) Bill, which formally extends the capital component of the 2025 budget. The extension is expected to ensure the completion of critical infrastructure projects already at advanced stages across the country.
In a statement issued by Bayo Onanuga, the extension will allow MDAs to consolidate ongoing work, improve project delivery timelines, and extract maximum value from public spending.
Tinubu has, however, issued a clear directive: all government agencies must ensure disciplined, transparent, and efficient use of funds, with strict adherence to value-for-money principles and timely execution of projects.
He also commended the National Assembly of Nigeria for its swift passage of the budget, praising lawmakers for their cooperation and commitment to national development.
Reaffirming his administration’s economic agenda, the President pledged to deepen fiscal reforms, boost revenue generation, and channel investments into sectors that will create jobs, stimulate growth, and strengthen social safety nets for Nigerians.
With the new budget now in force and the 2025 timeline extended, attention shifts to execution—where the real test of the administration’s promises will unfold.
