President Bola Tinubu has signed the 2026 Appropriation Bill into law,earmarking a total expenditure of ₦68.32 trillion for the current fiscal year.
He also signed another bill extending the execution period of the 2025 budget from March 31 to June 30, 2026.
The budget designated ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt service.₦15.4 trillion has been earmarked for recurrent expenditure and ₦32.2 trillion for capital expenditure through the Development Fund.
This was revealed in a statement signed and posted on X,by President Tinubu’s Special Adviser on Information and Strategy, Bayo Onanuga on Friday.“President Bola Ahmed Tinubu has assented to the 2026 Appropriation Bill, which provides for an aggregate expenditure of ₦68.32 trillion. He has also signed the bill extending the implementation period for the 2025 budget from March 31, 2026, to June 30, 2026″ the statement reads
President Tinubu signs 68.23 trillion naira 2026 appropriation bill
The N68.32 trillion budget for 2026 allocates N4.799 trillion for statutory transfers and N15.8 trillion for debt service, N15.4 trillion was allocated to recurrent expenditure and N32.2 trillion to the Development Fund for Capital Expenditure.
The above data portrays 50% of the budget being allocated to capital expenditure, which underscores the administration’s continued commitment to economic stability, national security, infrastructure development, and inclusive growth.
“The allocations reflect a strategic balance between statutory obligations, debt servicing, recurrent expenditure, and capital investments critical to driving productivity and improving the quality of life for Nigerians,” it added.
President Tinubu signs 68.23 trillion naira 2026 appropriation bill
The Federal Government commenced full implementation of the 2026 Appropriation Act in April 1 under the Renewed Hope Agenda.Tinubu also assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the capital component of the 2025 Appropriation Act by three months to June 30.
The presidency clarified that the extension would ensure the full utilisation of appropriated funds, particularly for critical infrastructure projects at advanced stages of implementation.
The extension will ensure the full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects that are at advanced stages of implementation across the country.
“It will enable Ministries, Departments, and Agencies (MDAs) to consolidate ongoing works, enhance project completion rates, and maximise value for public expenditure,” the statement reads
President Tinubu signs 68.23 trillion naira 2026 appropriation bill
The President mandated MDAs to ensure disciplined, transparent, and efficient utilisation of allocated resources, with strong emphasis on value and timely project execution.
He also commended the leadership and members of the National Assembly for their diligence, cooperation and patriotism while considering and passing the budget.
“The President reaffirmed the importance of sustained collaboration between the Executive and Legislative arms of government in advancing national development objectives,” the statement noted
Tinubu also assured Nigerians of his administration’s resolve to deepen fiscal reforms and boost revenue generation.
President Tinubu signs 68.23 trillion naira 2026 appropriation bill
“He further assured Nigerians of his administration’s resolve to deepen fiscal reforms, enhance revenue generation, and prioritise investments that will stimulate economic growth, create jobs, and strengthen social protection mechanisms,” the statement read
*2026 Budget of Consolidation, Renewed Resilience and Shared Prosperity*
The budget, titled “The Budget of Consolidation, Renewed Resilience and Shared Prosperity,” was originally presented to a joint session of the National Assembly on December 19, 2025, at a proposed sum of ₦58.47 trillion
The budget passed second reading in the House of Representatives on January 29, 2026, then went through further legislative scrutiny and finally arrived at ₦68.32 trillion at the point of assent.
President Tinubu signs 68.23 trillion naira 2026 appropriation bill
House Leader Julius Ihonvbere,during the second reading debate in January, called on the lawmakers to support the proposal, pointing to a projected 3.98 per cent economic growth rate for 2026, a projected drop in inflation to 14.45 per cent, improved revenues, and foreign direct investment growth.
He also cited a stabilisation of the naira at around ₦1,400 to the dollar and a rise in Nigeria’s external reserves to a seven-year high of approximately $47 billion.
When the bill was presented to the lawmakers in December, President Tinubu described it as a defining moment in Nigeria’s reform journey, acknowledging the pressures the process had placed on households and businesses while insisting the sacrifices were necessary.“The path of reform is seldom smooth, but it is the surest route to lasting stability and shared prosperity,” he told the National Assembly.
He declared that 2026 would mark a decisive shift to stronger budget execution discipline, announcing an end to the long-standing practice of running overlapping budgets and perpetual rollovers.
President Tinubu signs 68.23 trillion naira 2026 appropriation bill
The budget’s four stated objectives are consolidating macroeconomic stability, improving the business and investment environment, promoting job-rich growth, and strengthening human capital development while protecting the vulnerable.critical sectors such as defense and security got ₦5.41 trillion, ₦3.56 trillion for infrastructure, ₦3.52 trillion for education, and ₦2.48 trillion for health.
Speaking in an interview on Channels TV,on Friday,the Special Adviser to the President on economic planning Tope Fausa said, the recently signed 68.23 trillion naira budget is about strategy and planning adding that Nigeria stills utilizes one of the smallest budget on the continent ranking second after DR Congo.
According to the World Bank,in its Nigeria 2026 Development update title“Nigeria’s Tomorrow Must Start Today: The Case for Early Childhood Development,” released in April 2026 revealed that poverty rose to 63 per cent in 2025, despite a slowdown in inflation, indicating the limited impact of recent macroeconomic improvements on household welfare.
Nigerians are still grappling with harsh economic realities following the removal of fuel subsidy by President Tinubu and the unification of the exchange rate,with numerous social intervention programs failing to lift the millions of vulnerable Nigerians already living below the poverty line.
