Tinubu signs N68.32tn 2026 budget, extends 2025 implementation deadline

PRESIDENT Bola Ahmed Tinubu has approved the N68.32 trillion 2026 appropriation bill and extended the lifespan of the 2025 budget to allow for continued execution of ongoing projects. The announcement was made on Friday by Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga.

The National Assembly passed the revised budget on March 31 after the president requested an upward adjustment. Tinubu had initially submitted a N58.47 trillion proposal in December 2025 but later sought an additional N9.81 trillion, bringing the total to N68.32 trillion.

A breakdown of the budget shows N4.79 trillion allocated for statutory transfers and N15.8 trillion for debt servicing. Recurrent expenditure is set at N15.4 trillion, while N32.2 trillion has been earmarked for capital projects under the development fund.

Mr Onanuga said the significant allocation to capital expenditure – about 50 percent of the total budget – highlights the administration’s emphasis on infrastructure, economic growth, and national development, while maintaining a balance with other fiscal obligations.

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The president also signed an amendment extending the implementation of the 2025 budget from March 31 to June 30, 2026. The move is expected to ensure that Ministries, Departments, and Agencies (MDAs) fully utilise allocated funds, especially for projects already at advanced stages.

According to the presidency, the extension will help improve project completion rates, consolidate ongoing works, and ensure better value for public spending. The 2026 budget took effect from April 1, with full implementation set to proceed in line with the administration’s policy direction.

Tinubu has also directed MDAs to ensure transparency, discipline, and efficiency in the use of public funds, with a focus on timely delivery and accountability. He further reaffirmed the importance of collaboration between the executive and legislative arms to achieve national development goals.

The administration, Onanuga added, remains committed to deepening fiscal reforms, boosting revenue generation, and prioritising investments that will drive economic growth, create jobs, and strengthen social protection systems.