Tinubu signs ₦68.32tn 2026 budget, extends 2025 capital spending deadline

Business, Politics

ABUJA, Nigeria — 18 April 2026 (NPA) — President Bola Ahmed Tinubu has assented to the 2026 Appropriation Act, approving a total expenditure of ₦68.32 trillion, while also signing legislation to extend the implementation of the 2025 budget’s capital component to 30 June 2026.

The newly signed budget provides for ₦4.799 trillion in statutory transfers, ₦15.8 trillion for debt servicing, and ₦15.4 trillion for recurrent expenditure. A further ₦32.2 trillion has been allocated to the Development Fund for capital expenditure, representing roughly half of the total budget and signalling a strong focus on infrastructure and long-term growth.

According to a statement issued by presidential spokesman Bayo Onanuga, the allocations are designed to balance statutory obligations, debt commitments and operational costs with investments aimed at boosting productivity and improving living standards.

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The President also signed the Appropriation (Repeal and Enactment) (Amendment) Act, 2026, which extends the capital spending timeline under the 2025 budget from 31 March to 30 June 2026. The extension is intended to allow for the completion of key infrastructure and development projects already at advanced stages.

The presidency said the additional time would enable Ministries, Departments and Agencies (MDAs) to consolidate ongoing work, improve project delivery rates and ensure more effective use of public funds.

With the 2026 budget taking effect from 1 April, the Federal Government is set to begin full implementation in line with its Renewed Hope Agenda. President Tinubu directed MDAs to ensure disciplined, transparent and efficient use of resources, with emphasis on value for money and timely execution of projects.

He also commended the National Assembly of Nigeria for what he described as its diligence and cooperation in the swift passage of the budget, stressing the importance of continued collaboration between the executive and legislative arms of government.

The President reaffirmed his administration’s commitment to fiscal reforms, improved revenue generation and targeted investments aimed at stimulating economic growth, creating jobs and strengthening social protection programmes.