President Bola Tinubu has signed the 2026 appropriation bill into law, approving total spending of 68.32 trillion naira ($ amount not immediately available), the presidency said on Friday.
Tinubu also signed an amendment extending the implementation of the capital component of the 2025 budget to June 30, 2026, from the earlier March 31 deadline, according to a statement from presidential spokesman Bayo Onanuga.
The 2026 budget includes 4.799 trillion naira for statutory transfers, 15.8 trillion naira for debt service, 15.4 trillion naira for recurrent spending and 32.2 trillion naira for capital expenditure through the development fund.
The presidency said capital spending accounts for about half of the budget and reflects the administration’s focus on economic stability, security, infrastructure and inclusive growth.
It said the extension of the 2025 capital budget would allow ministries, departments and agencies to complete critical infrastructure and development projects already at advanced stages.
The statement said the measure would help improve project completion rates and ensure full use of appropriated funds.
Tinubu said the 2026 budget took effect from April 1 and directed government agencies to ensure transparent and efficient use of public resources, with emphasis on value for money and timely delivery of projects.
He also praised the National Assembly for what the presidency described as its swift passage of the spending plan.
Tinubu said his administration would continue fiscal reforms, improve revenue generation and prioritise investments aimed at supporting growth, creating jobs and strengthening social protection.
