Tinubu assents to 2026 Appropriation Bill, approves 2025 Budget extension

*The Federal Government says with capital expenditure accounting for about 50 percent, the 2026 Budget underscores the administration’s continued commitment to economic stability, national security, infrastructure development, and inclusive growth

Isola Moses | ConsumerConnect

President Bola Ahmed Tinubu has signed the 2026 Appropriation Bill into law, with an aggregate expenditure of ₦68.32 trillion.

ConsumerConnect reports President Tinubu also signed the bill extending the implementation period for the 2025 Budget from March 31, 2026, to June 30 this year.

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Mr. Bayo Onanuga, Special Adviser tom the President on Information and Strategy, who disclosed this development in a statement Friday, April 17, said this year’s ₦68.32 trillion budget earmarked ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt service.

The Federal budget allocated ₦15.4 trillion to recurrent expenditure and ₦32.2 trillion to the Development Fund for Capital Expenditure.

The statement noted: “With capital expenditure accounting for about 50 percent, 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.”

On extension of implementation 2025 Appropriation Act

The President also 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.

The extension, the statement revealed, would 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. “With the 2026 Appropriation Act coming into force on April 1, the Federal Government will commence full implementation in line with the Renewed Hope Agenda,” it added.

Additionally, 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.

He commended the National Assembly (NASS) for its diligence, cooperation, and patriotism in expeditiously 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.

Tinubu 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.

The budget is also expected to be partly financed through external borrowing, following the approval of a foreign loan plan exceeding $21 billion to bridge the fiscal gap.

₦9.85trn Increase

The 2026 budget represents an increase of ₦9.85 trillion over the initial proposal of ₦58.47 trillion that Tinubu submitted to the National Assembly, and ₦13.33 trillion higher than the 2025 budget.

The President had while presenting the 2025 budget proposal before federal lawmakers in December 2025, pegged the capital expenditure at ₦26.08 trillion and the crude oil benchmark at US$64.85 per barrel.

He disclosed that the expected total revenue was ₦34.33 trillion; ₦15.52 trillion for debt servicing.

The proposal was anchored on a crude oil production of 1.84 million barrels per day, and an exchange rate of ₦1,400 to the US Dollar for the 2026 fiscal year.

We’ll invest in security with clear accountability, says President

President Tinubu further said that his administration would invest in the military.

Amid the growing concerns over insecurity across the country, Tinubu said his administration would “invest in security with clear accountability for outcomes—because security spending must deliver security results.”

He told the Federal lawmakers: “We will take decisive steps to strengthen agricultural markets. Food security is national security.

“The 2026 budget prioritises input financing and mechanisation; irrigation and climate‑resilient agriculture; storage and processing; and agro‑value chains.”

Nigeria’s budgets in recent years have come under fire with experts critcising the poor implementation and release of funds for the execution of important national projects.

But the Tinubu administration said that the 2026 national budget was well-planned to solidify the gains of its reform agenda.

Commenting on the development, Alhaji Mohammed Idris, Honourable Minister for Information and National Orientation, in a statement, also said: “Our ‘Budget of Consolidation, Renewed Resilience and Shared Prosperity’ is critical.

“It is a commitment to double down on what is working, to solidify gains, and to ensure that the shared prosperity we speak of becomes a lived reality for more Nigerians, faster.”

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