Breaking: Tinubu Approves 2026 Budget, Pushes 2025 Implementation to June
- President Bola Ahmed Tinubu had signed the ₦68.32 trillion 2026 Appropriation Bill into law and extended the 2025 budget implementation to June 30
- The 2026 budget had allocated ₦4.799 trillion for statutory transfers, ₦15.8 trillion for debt servicing, and ₦32.2 trillion for capital expenditure
- Tinubu had directed MDAs to ensure transparent and efficient use of funds while commending the National Assembly for swift passage of the budget
FCT, Abuja - President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill.
This, however, sets the total of government spending at ₦68.32 trillion.
Source: Facebook
A statement signed by Bayo Onanuga, Special Adviser to the President (Information & Strategy) and posted via via X the Preisdent also approved an extension of the 2025 budget implementation timeline to June 30, 2026.
The move is aimed at sustaining ongoing projects and ensuring the full utilisation of previously allocated funds.
2026 budget sets record spending framework
The newly signed budget outlines key allocations across critical sectors of the economy. It provides ₦4.799 trillion for statutory transfers and ₦15.8 trillion for debt servicing obligations.
Recurrent expenditure is projected at ₦15.4 trillion, while ₦32.2 trillion has been earmarked for capital projects under the Development Fund.
With capital spending accounting for nearly half of the total budget, the plan signals a continued focus on infrastructure development, economic stability, and national security.
Extension targets completion of ongoing projects
Alongside the new budget, the President approved an amendment extending the lifespan of the 2025 Appropriation Act, shifting its implementation deadline from March 31 to June 30, 2026.
The extension is expected to allow Ministries, Departments, and Agencies (MDAs) to complete projects already at advanced stages and improve overall execution rates.
Officials said the decision would help “ensure the full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects”.
FG emphasises efficiency and accountability
With the 2026 budget taking effect from April 1, the federal government is set to commence full implementation in line with its policy agenda.
President Tinubu directed MDAs to apply strict discipline in spending and prioritise transparency in the use of public resources.
He stressed the need for “disciplined, transparent, and efficient utilisation of allocated resources”, with a focus on delivering value for money and timely execution of projects.
Tinubu commends national assembly, pledges reforms
The President also praised the National Assembly for what he described as its cooperation and commitment in passing the budget without delay.
Source: Twitter
He reiterated the importance of collaboration between the executive and legislative arms in driving national development.
Tinubu further assured Nigerians that his administration would continue to strengthen fiscal reforms, boost revenue generation, and prioritise investments capable of stimulating economic growth, creating jobs, and improving social protection systems.
Atiku reacts as senate passes 2026 budget
Previously, Legit.ng reported that former Vice President and chieftain of the African Democratic Congress (ADC), Atiku Abubakar, has expressed deep concern over reports that the Senate approved President Bola Ahmed Tinubu’s request for a fresh $6 billion external loan "within a record time, reportedly less than four hours after its presentation."
The Senate on Tuesday, March 31, passed the 2026 budget after adding the N9.3 trillion latest request by President Bola Tinubu, bringing the total figure to N68.323 trillion.
Source: Legit.ng
