• President Bola Tinubu signed the N68.32 trillion 2026 Appropriation Bill into law
• Tinubu also extended the implementation period for the 2025 budget from March 31 to June 30, 2026
• The Presidency said the budget reflects a strong focus on infrastructure, economic growth, national security and social inclusion

President Bola Tinubu has signed the 2026 Appropriation Bill into law, approving a total expenditure of N68.32 trillion for the fiscal year.

The President also signed a separate bill extending the implementation of the 2025 budget from March 31 to June 30, 2026.

According to a statement issued on Friday, April 17, by the Special Adviser on Information and Strategy, Bayo Onanuga, the new budget includes N4.799 trillion for statutory transfers, N15.8 trillion for debt service, N15.4 trillion for recurrent expenditure and N32.2 trillion for capital expenditure through the Development Fund.

The statement read, “President Bola Ahmed Tinubu has assented to the 2026 Appropriation Bill, which provides for an aggregate expenditure of N68.32 trillion. He has also signed the bill extending the implementation period for the 2025 budget from March 31, 2026, to June 30, 2026.

“The N68.32 trillion budget for this year earmarks N4.799 trillion for statutory transfers and N15.8 trillion for debt service. It allocates N15.4 trillion to recurrent expenditure and N32.2 trillion to the Development Fund for Capital Expenditure.

“With capital expenditure accounting for about 50 per cent, the 2026 budget underscores the administration’s continued commitment to economic stability, national security, infrastructure development, and inclusive growth.

“The allocations reflect a strategic balance between statutory obligations, debt servicing, recurrent expenditure, and capital investments critical to driving productivity and improving the quality of life for Nigerians.”

The Presidency said the 2026 Appropriation Act took effect on April 1, with full implementation already underway in line with the administration’s Renewed Hope Agenda.

Tinubu also signed the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, extending the capital component of the 2025 budget by an additional three months.

According to the Presidency, the extension is aimed at ensuring that critical projects already nearing completion receive adequate funding and are fully delivered.

“The extension will ensure the full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects that are at advanced stages of implementation across the country.

“It will enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure,” the statement read.

Tinubu instructed MDAs to prioritise transparency, accountability and value for money in the use of public resources.

He also praised the National Assembly for its speedy consideration and passage of the budget.

“The President reaffirmed the importance of sustained collaboration between the Executive and Legislative arms of government in advancing national development objectives,” the statement noted.

Tinubu further assured Nigerians that his administration would continue pursuing fiscal reforms, improving revenue generation and supporting investments capable of creating jobs and boosting economic growth.

“He further assured Nigerians of his administration’s resolve to deepen fiscal reforms, enhance revenue generation, and prioritise investments that will stimulate economic growth, create jobs, and strengthen social protection mechanisms,” the statement read.

The budget, titled “The Budget of Consolidation, Renewed Resilience and Shared Prosperity,” was initially presented to the National Assembly on December 19, 2025, with a proposed expenditure of N58.47 trillion.

After legislative review, the figure increased to N68.32 trillion before Tinubu signed it into law.

During the second reading of the budget in January, House Leader Julius Ihonvbere urged lawmakers to back the proposal, citing a projected 3.98 per cent economic growth rate, expected inflation decline to 14.45 per cent, stronger revenue performance and increased foreign investment.

He also referenced the stabilisation of the naira at about N1,400 to the dollar and the rise in Nigeria’s external reserves to around $47 billion.

When presenting the budget in December, Tinubu described it as a major milestone in Nigeria’s reform efforts.

“The path of reform is seldom smooth, but it is the surest route to lasting stability and shared prosperity,” he told the joint session.

He also promised stricter budget implementation and an end to the long-running practice of overlapping budgets and repeated rollovers.

The administration said the four key priorities of the budget are strengthening macroeconomic stability, improving the business climate, promoting job creation and supporting vulnerable Nigerians.

Among the major allocations are N5.41 trillion for defence and security, N3.56 trillion for infrastructure, N3.52 trillion for education and N2.48 trillion for health.

In a January opinion piece, Minister of Information Mohammed Idris described the budget as an opportunity to build on the administration’s reforms and make shared prosperity more visible to Nigerians.

He said stronger business activity, improving investor confidence, lower inflation and better external reserves were already pointing to progress.

He also highlighted major infrastructure projects such as the Coastal Highway, Sokoto–Badagry Expressway and Ajaokuta–Kaduna–Kano Gas Pipeline as evidence of the government’s ongoing efforts.

Senate clears Tinubu’s $6bn loan plan to fund budget gap, ports upgrade

Meanwhile, TheRadar earlier reported that the Nigerian Senate had approved President Bola Tinubu’s request to secure external loans totaling $6 billion, a move aimed at addressing fiscal shortfalls and funding key infrastructure projects.

The approval followed the consideration of a report presented by the Chairman of the Senate Committee on Local and Foreign Debts, Aliyu Wamakko, representing Sokoto North. The decision came shortly after the President formally transmitted his request to the Senate, signaling the Executive’s urgency in sourcing funds for priority sectors of the economy.