* FG commences full implementation of appropriation act on April 1 in line with RHA
* President directs MDAs to ensure disciplined, transparent and efficient utilisation of allocated resources
* Also assents to bill extending implementation of capital component of 2025 budget from March to June, 2026
President Bola Tinubu has assented to the 2026 Appropriation Bill, which provides for an aggregate expenditure of N68.32 trillion.
He has also signed into law the bill extending the implementation period for the capital component of the 2025 budget from March 31, 2026 to June 30, 2026.
Presidential spokesperson, Bayo Onanuga, while giving a breakdown of the 2026 Appropriation Act in a release issued on Friday, stated that the N68.32 trillion budget for this year earmarks N4.799 trillion for statutory transfers and N15.8 trillion for debt service.
It allocates N15.4 trillion to recurrent expenditure and N32.2 trillion to the Development Fund for Capital Expenditure.
According to the statement, with capital expenditure accounting for about 50 per cent, the 2026 budget underscores the administration’s continued commitment to economic stability, national security, infrastructure development and inclusive growth.
The allocations reflect a strategic balance between statutory obligations, debt servicing, recurrent expenditure, and capital investments critical to driving productivity and improving the quality of life for Nigerians.
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.
The president has therefore 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.
Tinubu reaffirmed the importance of sustained collaboration between the Executive and Legislative arms of government in advancing national development objectives.
He further assured Nigerians of his administration’s resolve to deepen fiscal reforms, enhance revenue generation, and prioritise investments that will stimulate economic growth, create jobs and strengthen social protection mechanisms.
Additionally, the president has assented to the Appropriation (Repeal and Enactment) (Amendment) Bill, 2026, which extends the implementation period of the capital component of the 2025 Appropriation Act from March 31, 2026, to June 30, 2026.
The extension will ensure the full and effective utilisation of appropriated funds, particularly for critical infrastructure and development projects that are at advanced stages of implementation across the country.
It will also enable Ministries, Departments and Agencies (MDAs) to consolidate ongoing works, enhance project completion rates and maximise value for public expenditure.
Thisday News
