Tinubu Signs N68.32 Trillion Budget for 2026

President Bola Tinubu signed the 2026 Appropriation Bill into law, which totals N68.32 trillion for the fiscal year. The bill also extends the implementation period for the capital component of the 2025 budget until June 30, 2026.

According to a statement from the State House, the budget allocates N4.799 trillion for statutory transfers, N15.8 trillion for debt servicing, N15.4 trillion for recurrent expenditure, and N32.2 trillion earmarked for development funds. Capital expenditure accounts for 50% of the total budget, reflecting the administration's focus on economic stability, national security, and infrastructure development.

The budget aims to balance statutory obligations, debt servicing, and personnel overhead costs while boosting productivity and improving living standards. The budget is set to take effect on April 1, 2026, with a projected budget deficit of N23.85 trillion.

Key allocations include N5.41 trillion for defense, N3.56 trillion for infrastructure, N3.52 trillion for education, and N2.48 trillion for health.