By Oluwakemi Kindness
President Bola Tinubu has signed the 2026 Appropriation Bill into law, approving a record ₦68.32 trillion budget aimed at driving infrastructure development, economic stability, and inclusive growth.
The newly enacted budget allocates ₦4.799 trillion to statutory transfers, ₦15.8 trillion for debt servicing, ₦15.4 trillion for recurrent expenditure, and a significant ₦32.2 trillion for capital projects under the Development Fund.
Capital expenditure alone accounts for about 50 percent of the total outlay, underscoring the administration’s focus on long-term investments.
In a statement on Friday, Special Adviser on Information and Strategy, Bayo Onanuga, says the budget aligns with the government’s Renewed Hope Agenda, balancing fiscal responsibilities with growth-driven spending to improve productivity and living standards.
President Tinubu also signed an amendment extending the implementation of the 2025 budget from March 31 to June 30, 2026.
The presidency said the extension is designed to ensure full utilisation of allocated funds, particularly for major infrastructure projects nearing completion.
The 2026 Appropriation Act took effect from April 1, 2026, with full implementation already underway.
