President Tinubu Assents to N68.32 Trillion 2026 Budget and Extends 2025 Spending Timeline

President Tinubu approves Nigeria's N68.32 trillion 2026 budget, allocating 50% to capital projects while extending the 2025 budget deadline to June.

By: AXL Media

Published: Apr 17, 2026, 10:38 AM EDT

Source: Information for this report was sourced from Peoples Gazette

A Massive Fiscal Commitment to Capital Development

In a major move toward stabilizing Nigeria's economic trajectory, President Bola Tinubu signed the 2026 Appropriation Bill on Friday. The budget, totaling N68.32 trillion, marks a significant increase in public spending, with a strategic focus on the "Renewed Hope Agenda." A standout feature of the 2026 fiscal plan is the allocation of N32.2 trillion to the development fund for capital expenditure. This accounts for nearly 50 percent of the total budget, highlighting the administration's intent to prioritize long term infrastructure and productive assets over short term consumption.

Extension of the 2025 Budget Implementation Window

Alongside the new budget, the President assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026. This legislative adjustment extends the implementation period of the capital component of the 2025 budget from March 31, 2026, to June 30, 2026. According to the Presidency, this 90 day extension is critical for Ministries, Departments, and Agencies to consolidate ongoing works and maximize value for public expenditure. The goal is to prevent the abandonment of projects that are currently in advanced stages of execution across the country.

Breakdown of Statutory Obligations and Recurrent Costs

The 2026 budget structure reflects a delicate balance between investment and mandatory obligations. Beyond the capital fund, the bill earmarks N15.8 trillion for debt servicing and N4.799 trillion for statutory transfers. Recurrent expenditure is set at N15.4 trillion, covering the daily operational costs of the federal government. Presidential adviser Bayo Onanuga emphasized that these allocations are designed to drive productivity while maintaining the state's capacity to meet its international and domestic financial commitments.