The ₦68.32 trillion 2026 Appropriations Bill was signed into law by President Bola Ahmed Tinubu on Friday.
According to Naija News, Tinubu’s Special Advisor on Information and Strategy, Bayo Onanuga, revealed this in a statement on Friday.
A total of ₦68.32 trillion will be spent, according to the 2026 Appropriations Bill. Additionally, he signed a bill that extended the 2025 budget’s implementation period from March 31, 2026, to June 30, 2026.
This year’s N68.32 trillion budget includes N15.8 trillion for debt service and N4.799 trillion for statutory transfers.
It allots N32.2 trillion to the Development Fund for Capital Expenditure and N15.4 trillion to ongoing expenses.
The 2026 budget highlights the administration’s ongoing commitment to infrastructure development, inclusive growth, national security, and economic stability, with capital expenditures making up over half of the total.
The allocations show a calculated balance between statutory duties, debt repayment, ongoing expenses, and capital investments that are essential to boosting productivity and raising Nigerians’ standard of living.
Furthermore, the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the 2025 Appropriation Act’s capital component’s implementation time from March 31, 2026, to June 30, 2026, has been approved by the President.
The extension would guarantee the complete and efficient use of budgeted funds, especially for vital development and infrastructure projects that are nearing completion nationwide.
Ministries, Departments, and Agencies (MDAs) will be able to maximize value for public spending, improve project completion rates, and consolidate ongoing projects.
The Federal Government will begin full implementation in accordance with the Renewed Hope Agenda on April 1st, when the 2026 Appropriations Act goes into effect.
MDAs were instructed by President Tinubu to make sure that allotted resources are used in a disciplined, transparent, and effective manner, with a focus on timely project delivery and value for money.
He praised the National Assembly’s leadership and members for their hard work, collaboration, and patriotism in swiftly reviewing and approving the budget.
In order to further national development goals, the President reiterated the significance of ongoing cooperation between the legislative and executive branches of government.
In order to further national development goals, the President reiterated the significance of ongoing cooperation between the legislative and executive branches of government.
He also reassured Nigerians that his administration is committed to strengthening fiscal reforms, increasing revenue production, and giving priority to investments that will boost economic expansion, generate employment, and fortify social safety nets.
