BREAKING: Tinubu assents to 2026 appropriation bill, 2025 budget extension
President Tinubu Signs 2026 Appropriation Bill
President Bola Ahmed Tinubu has officially signed the 2026 Appropriation Bill, which sets the aggregate expenditure for the year at N68.32 trillion. This decision includes an extension of the implementation period for the 2025 budget, moving the deadline from March 31, 2026, to June 30, 2026.
The announcement was made by Bayo Onanuga, the President’s Senior Special Assistant on Information and Strategy, on Friday.
The new budget allocates N4.799 trillion for statutory transfers and N15.8 trillion for debt service. It designates N15.4 trillion for recurrent expenditures and N32.2 trillion for the Development Fund for Capital Expenditure. With capital expenditure constituting approximately 50 percent of the total budget, this structure aims to enhance economic stability, national security, and infrastructure development.
Moreover, the budget reflects a strategic allocation that balances statutory obligations, debt service, recurrent expenditures, and crucial capital investments, all intended to boost productivity and improve the quality of life for Nigerians.
In addition to the Appropriation Bill, President Tinubu has also signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026. This bill extends the implementation period for the capital component of the 2025 Appropriation Act until June 30, 2026.
This extension is expected to facilitate the effective use of appropriated funds for critical infrastructure and development projects that are nearing completion across the country. It will provide Ministries, Departments, and Agencies (MDAs) with the necessary time to consolidate ongoing projects, improve completion rates, and maximize public expenditure efficiency.
The 2026 Appropriation Act is set to take effect on April 1, with the Federal Government beginning full implementation in line with its Renewed Hope Agenda.
During this process, President Tinubu has emphasized the importance of disciplined, transparent, and efficient utilization of resources. He called for a focus on value for money and timely project delivery.
The President expressed gratitude to the leadership and members of the National Assembly for their diligence and cooperation in swiftly passing the budget. He reiterated the significance of ongoing collaboration between the Executive and Legislative branches to achieve national development goals.
Additionally, President Tinubu assured Nigerians of his commitment to fiscal reforms, enhancing revenue generation, and prioritizing investments that stimulate economic growth, create jobs, and strengthen social protection mechanisms.
