…Extends 2025 Spending Deadline to June
President Bola Ahmed Tinubu has signed into law the 2026 Appropriation Bill valued at ₦68.32 trillion, setting the stage for what the Federal Government describes as a renewed push for economic stability, infrastructure development, and job creation.
In a move that may also ease pressure on ongoing projects nationwide, the President simultaneously approved an extension of the 2025 budget implementation from 31 March to 30 June 2026.
The newly signed budget places heavy emphasis on capital spending, with ₦32.2 trillion—about half of the total allocation—earmarked for development projects.
Statutory transfers will take ₦4.799 trillion, while ₦15.8 trillion has been set aside for debt servicing. Recurrent expenditure is projected at ₦15.4 trillion.
According to a State House statement issued on Friday by presidential spokesman Bayo Onanuga, the spending plan is designed to strike a balance between meeting existing obligations and investing in growth.
“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,” Onanuga said.
For many Nigerians, the extension of the 2025 budget may prove just as significant. Across the country, several government-funded projects—particularly in roads, housing and public infrastructure—have faced delays.
The additional three months are expected to give Ministries, Departments and Agencies (MDAs) time to complete ongoing works and avoid abandoning critical projects.
According to the press statement, “The extension will ensure the full and effective utilization of appropriated funds, particularly for critical infrastructure and development projects that are at advanced stages of implementation across the country.”
With the 2026 budget taking effect from 1 April, the Federal Government is expected to begin full implementation immediately, in line with the administration’s Renewed Hope Agenda.
President Tinubu has, however, issued a clear directive to government agencies on how the funds must be handled.
“President Tinubu directed MDAs to ensure disciplined, transparent, and efficient utilisation of allocated resources, with a strong emphasis on value for money and timely project delivery,” said Onanuga.
He also commended the National Assembly for its swift passage of the budget, describing the cooperation between both arms of government as vital to national progress.
Beyond the figures, the President sought to reassure Nigerians that the spending plan would translate into real improvements in daily life, particularly through economic reforms, increased revenue and stronger social protection.
“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,” Onanuga added.
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