President Bola Ahmed Tinubu has signed the ₦68.32 trillion 2026 Appropriation Bill into law, setting the country’s fiscal framework for the new year, Peak Newspaper reports
The signing took place in Abuja, marking the formal commencement of the 2026 budget cycle, which outlines government spending priorities across key sectors of the economy.
In addition to the 2026 budget, the President also assented to a separate bill extending the implementation period of the 2025 budget from March 31, 2026, to June 30, 2026.
The extension is expected to allow for the completion of ongoing capital projects and ensure full utilization of funds already appropriated under the 2025 fiscal plan.
Breakdown of the 2026 budget shows allocations for statutory transfers, debt servicing, recurrent expenditure and capital projects, with a significant portion earmarked for infrastructure and development initiatives aimed at stimulating economic growth.
Government officials said the dual action of signing the new budget while extending the previous one is part of efforts to address the challenge of overlapping fiscal cycles and improve budget implementation efficiency.
The development comes as the administration continues to pursue economic reforms focused on fiscal discipline, infrastructure expansion and long-term growth, amid ongoing concerns about inflation, debt servicing and revenue generation.
