Tinubu assents to 2026 budget, extends implementation of 2025 budget

President Bola Tinubu has signed the N68.32 trillion 2026 appropriation bill into law.

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 Bayo Onanuga, the special adviser to the president on information and strategy, announced this in a statement released on Friday, April 17.

Recall that on March 31, the national assembly passed the budget after Tinubu’s upward review request. In December 2025, Tinubu presented N58.47 trillion as the 2026 appropriation bill to the national assembly.

However, on March 31, the President asked the National Assembly to increase the budget estimates by N9.81 trillion, taking the total budget to N68.32 trillion.

Onanuga said the 2026 budget earmarks N4.79 trillion for statutory transfers and N15.8 trillion for debt service.

According to the spokesperson, the budget also allocates N15.4 trillion to recurrent expenditure and N32.2 trillion to the development fund for capital expenditure.

“With capital expenditure accounting for about 50 per cent, the 2026 budget 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.”

Onanuga said Tinubu also extended the implementation period for the 2025 budget from March 31 to June 30.

“Additionally, the President has assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the implementation period of the capital component of the 2025 Appropriation Act from March 31, 2026, to June 30, 2026.

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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.”

Onanuga added that the 2026 appropriation act went into force on April 1, and the federal government will commence full implementation in line with the Renewed Hope Agenda.

He added that Tinubu directed ministers, departments and agencies (MDAs) to ensure disciplined, transparent, and efficient utilisation of allocated resources, with a strong emphasis on value for money and timely project delivery.

“President Tinubu directed MDAs to ensure disciplined, transparent, and efficient utilisation of allocated resources, with a strong emphasis on value for money and timely project delivery,” the spokesperson said

Onanuga said Tinubu also reaffirmed the importance of sustained collaboration between the executive and legislative arms of government in advancing national development objectives.

The president also 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.