Tinubu signs N68.32trn 2026 budget, extends 2025 budget implementation deadline
President Bola Tinubu has signed the N68.32 trillion 2026 Appropriation Bill into law, marking a major step in the federal government’s fiscal planning for the coming year.
The announcement was made on Friday by Bayo Onanuga, the president’s special adviser on information and strategy. According to him, the newly approved budget outlines key spending priorities aimed at sustaining economic stability, strengthening national security, and accelerating infrastructure development.
A breakdown of the budget shows that N4.79 trillion has been allocated for statutory transfers, while N15.8 trillion is set aside for debt servicing. Recurrent expenditure will take N15.4 trillion, and a significant N32.2 trillion has been designated for capital projects under the development fund.
Onanuga noted that capital expenditure accounts for roughly 50 percent of the total budget, reflecting the administration’s focus on long-term growth and improving living standards across the country. He added that the spending framework strikes a balance between mandatory obligations, operational costs, and investments needed to boost productivity.
In a related development, the president also approved an extension of the 2025 budget implementation timeline. Originally scheduled to end on March 31, it will now run until June 30, 2026.
The extension applies specifically to the capital component of the 2025 budget, following the signing of the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026. The move is intended to allow Ministries, Departments, and Agencies (MDAs) to complete ongoing projects and ensure better utilization of allocated funds.
Government officials say the additional time will help improve project delivery, especially for critical infrastructure initiatives that are already at advanced stages.
The 2026 budget officially took effect on April 1, with full implementation expected to proceed in line with the administration’s Renewed Hope Agenda.
