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President Bola Tinubu has officially submitted a request to the House of Representatives to present the 2026 Appropriation Bill.
The letter, which was read in the House on Thursday by Speaker Abbas Tajudeen, states that the President intends to present the bill at noon on Friday, December 19, 2025, during a joint session of the National Assembly.
“I respectfully request the House of Representatives to allow me to present the 2026 budget at 12:00 noon on Friday, December 19, 2025, during a joint session of the National Assembly,” the letter stated.
In the Medium-Term Expenditure Framework and Fiscal Strategy Paper (FSP) for 2026–2028 currently under review by the House, the total proposed budget amounts to N54.46 trillion, with N34.33 trillion anticipated from retained revenue.
According to NAN, new borrowings are estimated at N17.88 trillion, which includes both domestic and foreign loans, while debt servicing is projected to reach N15.52 trillion.
Expenditure for pensions, gratuities, and benefits for retirees is expected to be N1.376 trillion, with the fiscal deficit estimated at N20.13 trillion.
Capital expenditure is planned at N20.13 trillion, excluding transfers and statutory allocations estimated at N3.15 trillion, while the Sinking Fund is projected at N388.54 billion.
Total recurrent (non-debt) expenditure is anticipated to be N15.265 trillion, with special interventions for recurrent and capital expenditures set at N200 billion and N14 billion, respectively.
Frequently Asked Questions
What is the purpose of the 2026 Appropriation Bill?
The 2026 Appropriation Bill outlines the government's planned expenditures and revenues for the fiscal year, aiming to manage the country's finances effectively.
When will President Tinubu present the 2026 budget?
President Tinubu is scheduled to present the 2026 budget on Friday, December 19, 2025, at 12:00 noon during a joint session of the National Assembly.
What is the total proposed budget for 2026?
The total proposed budget for 2026 is N54.46 trillion.
Eze Chidiebere Paul
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