By Hopejane Uzor
President Bola Tinubu has signed into law the ₦68.32 trillion 2026 Appropriation Bill, officially setting in motion Nigeria’s largest budget to date.
The budget, which took effect from April 1, outlines an aggregate expenditure of ₦68.32 trillion, marking a significant fiscal plan aimed at driving economic growth and infrastructure development.
A breakdown of the appropriation shows that ₦4.799 trillion has been allocated for statutory transfers, while ₦15.8 trillion is earmarked for debt servicing obligations.
In addition, the sum of ₦15.4 trillion is designated for recurrent expenditure, covering salaries and operational costs, while ₦32.2 trillion is reserved for capital expenditure through the Development Fund.
In a statement on Friday, the Special Adviser on Information and Strategy, Bayo Onanuga, disclosed that the President also approved an extension of the 2025 budget implementation timeline.
The extension shifts the deadline from March 31 to June 30, 2026, a move the presidency said would allow for the full utilisation of funds, particularly for ongoing infrastructure projects nearing completion. President Tinubu has also directed Ministries, Departments and Agencies (MDAs) to ensure transparency, efficiency, and accountability in the use of public funds, as the Federal Government begins full implementation of the budget under its Renewed Hope Agenda.
