President Bola Tinubu has given assent to the 2026 Appropriation Bill, officially approving a total federal budget of ₦68.32 trillion for the 2026 financial year.
Alongside this, he also signed an amendment extending the lifespan of the 2025 budget from March 31, 2026, to June 30, 2026. The extension is aimed at giving ministries, departments, and agencies more time to complete ongoing projects and fully utilise allocated funds, especially for major capital developments.
A statement from the Presidency, issued by Special Adviser on Information and Strategy, Bayo Onanuga, explained that the approved 2026 budget is distributed across major expenditure categories. These include ₦4.799 trillion for statutory transfers, ₦15.8 trillion for debt repayment, ₦15.4 trillion for recurrent spending, and ₦32.2 trillion set aside for capital projects under the Development Fund.
According to the statement, the structure of the budget shows a strong emphasis on capital investment, which takes up about half of total spending. This, it said, reflects government priorities such as infrastructure expansion, economic stability, security enhancement, and improved social services.
The Presidency further noted that extending the 2025 budget implementation will help ensure continuity of key projects, reduce delays, and improve overall efficiency in public expenditure.
It added that President Tinubu has directed all MDAs to adopt strict discipline in spending, ensure transparency, and prioritise value for money in project execution.
He also expressed appreciation to the National Assembly for the timely passage of the budget, describing the process as a demonstration of cooperation between both arms of government.
Reaffirming his administration’s economic direction, Tinubu said the government remains committed to fiscal reforms, stronger revenue generation, job creation, and increased investment in critical sectors.
Originally presented at ₦58.47 trillion, the budget was later revised upward during legislative review before being passed into law at ₦68.32 trillion.
Key sector allocations include ₦5.41 trillion for defence and security, ₦3.56 trillion for infrastructure, ₦3.52 trillion for education, and ₦2.48 trillion for health.
The government stated that the 2026 budget is designed to support economic stability, stimulate growth, expand opportunities for businesses, and strengthen social protection for vulnerable Nigerians.
