President Bola Tinubu has signed the 2026 Appropriation Bill into law, approving a total expenditure of ₦68.32 trillion for the fiscal year.
The President also assented to an amendment extending the implementation of the capital component of the 2025 budget from March 31 to June 30, 2026.
According to a statement by his spokesperson, Bayo Onanuga, the 2026 budget allocates ₦4.799 trillion for statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent expenditure, and ₦32.2 trillion for capital expenditure through the Development Fund.
The statement noted that capital spending accounts for about 50 per cent of the budget, reflecting the administration’s focus on infrastructure development, economic stability, and inclusive growth.
With the Appropriation Act taking effect from April 1, the Federal Government is set to begin full implementation in line with its Renewed Hope Agenda.
President Tinubu directed all Ministries, Departments, and Agencies (MDAs) to ensure disciplined, transparent, and efficient utilisation of funds, stressing the need for value for money and timely project delivery.
He also commended the National Assembly for the swift passage of the budget, highlighting the importance of continued collaboration between the executive and legislative arms of government.
The President reaffirmed his administration’s commitment to fiscal reforms, improved revenue generation, job creation, and strengthened social protection systems.
The extension of the 2025 capital budget, he said, is aimed at ensuring the completion of ongoing infrastructure projects and maximising the impact of public spending across the country.
By Deji Elumoye
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