President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill, approving a record ₦68.32 trillion budget aimed at driving economic growth, strengthening national security, and accelerating infrastructure development across Nigeria.
In a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, the President also assented to an amendment extending the implementation period of the 2025 budget from March 31 to June 30, 2026. The move is intended to allow Ministries, Departments, and Agencies (MDAs) to complete ongoing capital projects and fully utilise allocated funds.
A breakdown of the 2026 budget shows ₦4.799 trillion allocated for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent expenditure, and a significant ₦32.2 trillion dedicated to capital projects through the Development Fund. Capital expenditure accounts for about 50 percent of the total budget, reflecting the administration’s focus on infrastructure and long-term economic productivity.
