- Safiu Kehinde
President Bola Ahmed Tinubu has signed the 2026 Appropriation Bill while approving the extension and implementation period for the 2025 budget from March 31, 2026, to June 30, 2026.
The 2026 Appropriation Act, which contained N68.32 trillion budget, is expected to take effect from April 1 in line with the Renewed Hope Agenda.
While a total of N4.799 trillion was earmarked in the budget for statutory transfers, N15.8 trillion was set aside for debt service.
Recurrent expenditure took N15.4 trillion while N32.2 trillion was committed to the Development Fund for Capital Expenditure.
With capital expenditure accounting for about 50 per cent, the 2026 budget, according to reports 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 the other hand, the extended 2025 budget seeks to 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.
In his address, Tinubu charged all MDAs to ensure disciplined, transparent, and efficient utilisation of allocated resources, with a strong emphasis on value for money and timely project delivery.
He lauded the leadership and members of the National Assembly for their diligence in the passage of the budget.
The President reaffirmed the importance of sustained collaboration between the Executive and Legislative arms of government in advancing national development objectives.
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.