Tinubu signs Nigeria’s ₦68.32 trillion 2026 budget, boosts capital spending, and extends 2025 budget to June amid economic challenges.
Nigeria has officially set a new fiscal record as President Bola Ahmed Tinubu signed the ₦68.32 trillion national budget for 2026 into law. Alongside the approval, the president also endorsed a separate bill extending the implementation of the 2025 budget from March 31, 2026, to June 30, 2026, allowing more time to complete ongoing capital projects.
The 2026 budget marks a significant increase from the initial ₦58.18 trillion proposal submitted earlier by the presidency. The National Assembly revised the figure upward by ₦10 trillion, reflecting adjustments aimed at addressing key national priorities.
A detailed breakdown of the approved budget shows a strong emphasis on infrastructure and development. Capital expenditure takes the largest share at ₦32.2 trillion, signaling the government’s focus on projects that could stimulate economic growth and improve national security. Recurrent spending is allocated ₦15.4 trillion, covering salaries, overheads, and government operations, while debt servicing will consume ₦15.8 trillion.
Statutory transfers are set at ₦4.799 trillion.
President Tinubu described the budget as a “strategic balance” between economic stability and long-term development. He emphasized that extending the 2025 budget timeline would ensure the completion of critical projects that may otherwise face delays.
The approval comes at a time when Nigeria continues to grapple with inflation rates exceeding 30 percent, raising concerns among citizens about the effectiveness of government spending. In response, the president reassured Nigerians of his administration’s commitment to transparency, accountability, and delivering tangible results.
ALSO READ: Abia State Government Reacts to Tragic Killings in Amakama Community, Umuahia
With the largest budget in the country’s history, expectations are high that the 2026 fiscal plan will drive growth, enhance infrastructure, and improve the overall standard of living.
