President Bola Ahmed Tinubu on Friday signed the ₦68.32tn 2026 Appropriation Bill into law, setting the stage for one of the country’s largest budgets, with a strong tilt towards infrastructure and development spending.
The Presidency disclosed that the fiscal plan earmarks ₦32.2tn for capital projects, representing close to half of the total outlay, in what officials say reflects a deliberate push to stimulate economic growth and strengthen national security.
A breakdown of the budget shows ₦4.799tn allocated to statutory transfers, ₦15.8tn for debt servicing, and ₦15.4tn for recurrent expenditure.
In a statement issued by the Special Adviser to the President on Information and Strategy, Bayo Onanuga, the government said the heavy capital allocation underscores the administration’s focus on infrastructure development and inclusive growth.
The President also assented to an amendment extending the implementation of the 2025 capital budget from March 31 to June 30, 2026, a move aimed at enabling Ministries, Departments and Agencies to complete ongoing projects nearing completion.
According to the Presidency, the extension is expected to ensure optimal utilisation of funds already released for key infrastructure and development initiatives across the country.
With the new budget taking effect from April 1, Tinubu directed all MDAs to adhere strictly to transparency and accountability in the use of public resources, stressing the need for value for money and timely execution of projects.
He further commended the National Assembly for the speedy passage of the appropriation bill and called for sustained collaboration between the executive and legislative arms to drive fiscal reforms.
Tinubu reiterated his administration’s commitment to boosting revenue, creating jobs and expanding social protection programmes, in line with its Renewed Hope Agenda.