President Bola Tinubu has signed into law the ₦68.32 trillion 2026 Appropriation Bill, marking a significant increase from the initial proposal submitted to the National Assembly.

The development was disclosed on Friday by Bayo Onanuga, Special Adviser to the President on Information and Strategy, in an official statement.

The National Assembly had approved the revised budget on March 31, following the president’s request to increase the initial estimate of ₦58.47 trillion, which was presented in December 2025. The upward revision of ₦9.81 trillion brought the total budget size to ₦68.32 trillion.

According to the presidency, the 2026 budget includes allocations of ₦4.79 trillion for statutory transfers and ₦15.8 trillion for debt servicing. Recurrent expenditure is projected at ₦15.4 trillion, while ₦32.2 trillion has been earmarked for capital expenditure through the development fund.

Onanuga noted that capital spending accounts for approximately 50 per cent of the total budget, reflecting the administration’s emphasis on infrastructure development, economic stability, national security, and inclusive growth. He added that the allocation framework seeks to balance statutory obligations, debt servicing, operational costs, and investments critical to improving productivity and living standards.

In a related development, the president also approved an extension of the implementation period for the capital component of the 2025 budget. The deadline has been moved from March 31, 2026, to June 30, 2026, following the signing of the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026.

The extension, according to the presidency, is intended to facilitate the completion of ongoing infrastructure and development projects and ensure optimal utilisation of allocated funds. It is also expected to enable Ministries, Departments, and Agencies (MDAs) to consolidate existing projects and improve execution outcomes.

The 2026 Appropriation Act took effect on April 1, with full implementation set to proceed in line with the administration’s policy agenda. The president has directed MDAs to ensure prudent, transparent, and efficient use of public resources, with a focus on value for money and timely delivery of projects.

Tinubu also reiterated the need for continued collaboration between the executive and legislative arms of government to advance national development priorities. He further assured citizens of his administration’s commitment to fiscal reforms, improved revenue generation, and strategic investments aimed at stimulating economic growth, creating jobs, and strengthening social protection systems.