Abuja, NIGERIA – President Bola Ahmed Tinubu has officially signed the 2026 Appropriation Bill into law, approving a total expenditure of ₦68.32 trillion (approximately $42.7 billion / about ₦68.32 trillion), while also extending the implementation period of the 2025 budget to June 30, 2026.
Okay News understands that the newly signed budget outlines key allocations across major sectors of government spending. A total of ₦4.799 trillion (about $3 billion / ₦4.799 trillion) has been set aside for statutory transfers, while ₦15.8 trillion (around $9.9 billion / ₦15.8 trillion) will go toward servicing the nation’s debt obligations. Recurrent expenditure is projected at ₦15.4 trillion (approximately $9.6 billion / ₦15.4 trillion), covering the day-to-day running of government activities.
A significant portion of the budget—₦32.2 trillion (about $20.1 billion / ₦32.2 trillion)—has been allocated to capital expenditure through the Development Fund. This represents roughly half of the total budget, signaling a strong focus on infrastructure development, economic expansion, and long-term national growth.
The administration noted that the budget structure reflects a deliberate balance between mandatory financial obligations, operational costs, and investments aimed at boosting productivity and improving living standards. The emphasis on capital projects is expected to support critical sectors such as transportation, energy, security, and social services.
In addition to the new budget, President Tinubu also signed an amendment bill extending the lifespan of the 2025 Appropriation Act’s capital component. Originally set to expire on March 31, 2026, the deadline has now been moved to June 30, 2026, to allow for the completion of ongoing projects across Ministries, Departments, and Agencies (MDAs).
The extension is designed to ensure that funds already released for major infrastructure and development projects are fully utilized, particularly those nearing completion. Government officials say this move will help improve project delivery timelines and ensure better value for public spending.
With the 2026 Appropriation Act taking effect from April 1, the Federal Government is set to begin full implementation under its Renewed Hope Agenda. The President has directed all MDAs to ensure transparency, accountability, and efficiency in the use of public funds.
He also acknowledged the role of the National Assembly in the timely passage of the budget, emphasizing the importance of continued cooperation between the executive and legislative arms in driving national development.
The President reaffirmed his administration’s commitment to strengthening fiscal policies, increasing government revenue, and investing in sectors that will generate employment and enhance social welfare across the country.
