President Bola Tinubu has signed into law the 2026 Appropriation Bill, approving a total expenditure of ₦68.32 trillion, as the Federal Government seeks to balance rising fiscal obligations with economic growth priorities.
The 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 projects.
Capital expenditure accounts for about half of the total budget, reflecting a continued focus on infrastructure development, national security, and economic expansion.
In a related move, the President also approved an amendment extending the implementation period of the capital component of the 2025 budget from March 31 to June 30, 2026.
The extension is aimed at ensuring the completion of ongoing projects and improving utilisation of public funds by Ministries, Departments, and Agencies (MDAs).
The 2026 budget, which took effect from April 1, is expected to drive investment in key sectors while supporting fiscal reforms, revenue generation, and job creation.
The President directed MDAs to prioritise transparency, efficiency, and timely project delivery in the use of allocated funds, emphasising value for money in public expenditure.