Tinubu signs ₦68.32tn 2026 budget, extends 2025 spending deadline

Nigeria’s president, Bola Tinubu, has signed the 2026 appropriation bill into law, approving a total expenditure of ₦68.32 trillion, one of the country’s largest budgets to date.

According to a statement from the State House, the spending plan outlines ₦4.799 trillion for statutory transfers, ₦15.8 trillion for debt servicing, and ₦15.4 trillion for recurrent expenditure. A significant ₦32.2 trillion has been earmarked for capital projects through a development fund.

The heavy allocation to capital expenditure, which accounts for nearly half of the total budget, signals the government’s focus on infrastructure, economic stability, and long-term growth.

Capital spending extension to drive project completion

Alongside the new budget, Tinubu also approved an amendment extending the implementation period for the capital component of the 2025 budget.

The deadline has been moved from March 31 to June 30, 2026, giving ministries, departments and agencies (MDAs) more time to complete ongoing projects and fully utilise allocated funds.

Officials say the extension is aimed at reducing abandoned projects and improving overall budget performance, a persistent challenge in Nigeria’s public finance system.

The 2026 budget takes effect from April 1 and will be implemented in line with the administration’s “Renewed Hope Agenda,” which prioritises economic reforms, security, and inclusive development.

Tinubu also directed all MDAs to ensure disciplined and transparent use of public funds, while commending the National Assembly of Nigeria for the swift passage of the appropriation bill.

The new spending plan comes as Nigeria continues to balance rising debt obligations with the need for infrastructure investment and economic recovery.

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