President Tinubu Signs Record-Breaking Budget With Infrastructure Focus

(Tinubu Signs 2026 Bill. Photo by Daily Trust)

The 2026 Appropriations Bill, which calls for a total expenditure of ₦68.32 trillion, has been approved by President Bola Tinubu. Additionally, he signed the bill that extends the 2025 budget's implementation period from March 31, 2026, to June 30, 2026.

This year's N68.32 trillion budget sets aside N15.8 trillion for debt servicing and N4.799 trillion for statutory transfers.

It allots N32.2 trillion to the Development Fund for Capital Expenditure and N15.4 trillion to recurring expenses.

The 2026 budget highlights the administration's ongoing commitment to infrastructure development, inclusive growth, national security, and economic stability, with capital expenditures making up over half of the total.

The allocations show a calculated balance between statutory duties, debt repayment, ongoing expenses, and capital investments that are essential to boosting production and raising Nigerians' standard of living.

Furthermore, the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the 2025 Appropriation Act's capital component's implementation time from March 31, 2026, to June 30, 2026, has been approved by the President.

The extension would guarantee the complete and efficient use of budgeted funds, especially for vital development and infrastructure projects that are nearing completion nationwide.

Ministries, Departments, and Agencies (MDAs) will be able to maximize value for public spending, improve project completion rates, and consolidate ongoing projects. With the 2026 Appropriation Act coming into force on April 1, the federal government will commence full implementation in line with the Renewed Hope Agenda.

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.

He commended the leadership and members of the National Assembly for their diligence, cooperation, and patriotism in expeditiously considering and passing the budget. The President reaffirmed the importance of sustained collaboration between the executive and legislative arms of government in advancing national development objectives.

He also reassured Nigerians of his administration's determination to prioritize investments that will boost economic growth, create jobs, and fortify social safety systems, as well as to deepen fiscal reforms and increase revenue production.