After several months of reviews of the revenues and expenditures’ projections in the 2026 Appropriation Bill, President Bola Tinubu on Friday finally assented to the amended Bill passed by the National Assembly with a total budgetary value of N68.32 trillion.
The Special Adviser to the President (Information and Strategy), Bayo Onanuga, who confirmed that the President signed the Bill, indicated that about N32.2 trillion was earmarked for capital expenditures during the fiscal year, underscoring the administration’s commitment to infrastructure development nationwide.
According to him, the approved budget had N15.8 trillion for debt management while N15.4 trillion was earmarked recurrent expenditures this year
A further analysis of the budgetary data showed that Statutory Transfers had N4.79 trillion provision in the fiscal year.
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Onanuga stated: “With capital expenditure accounting for about 50 per cent, 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”, he added
In a related department, Tinubu also approved the extension of the 2025 budget implementation period from the earlier March 31 deadline to June 30 this year to enable the government complete some of the major ongoing capital projects.
The President’s spokesperson further clarified: “Additionally, the President 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 will 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”, Onanuga added.
According to him the 2026 budget’s implementation formally took effect on April 1 and the President has directed all ministries, departments and agencies (MDAs) to apply the highest standards of discipline, transparency and efficiency in spending the allocated funds.
He stressed: “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.”
Onanuga noted that the President continues to place great importance on close collaboration between the executive and legislative arms to fast-track national development.
“The President 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.”
