Tinubu Set to Unveil N54.4 Trillion 2026 Budget at National Assembly This Friday

Table of Contents

1. Budget Presentation Overview
2. Security Protocols for the Event
3. Medium-Term Expenditure Framework and Fiscal Strategy Paper Approval
4. Economic Projections and Estimates
5. House of Representatives Status

President Bola Tinubu is scheduled to present the proposed Federal Budget for 2026 to a joint session of the National Assembly on Friday, December 19, 2025, at 2:00 PM, unless there are any last-minute changes.

This information comes from a letter dated December 17, which was circulated to all National Assembly staff by the Secretary of Human Resources and Staff Development, Adm. Essien Eyo Essien. The letter stated that only accredited personnel will be permitted entry into the National Assembly Complex for the budget presentation.

The memo indicated that all accredited staff must report to their designated duty posts by 11:00 AM, as security measures will limit access to those arriving after this time. Non-accredited individuals have also been advised to refrain from entering the complex.

The directive further specified that, aside from the Clerk of the National Assembly, Deputy Clerk, Chief Secretary, Chief Human Resources Officer, and their deputies, all other staff are required to park their vehicles at the Annex or the new parking area near the National Assembly gate.

Essien emphasized the importance of following these instructions to ensure a smooth process during the president’s budget presentation.

President Tinubu’s appearance before lawmakers follows the Senate’s approval of the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), which has paved the way for the presentation of the 2026 Appropriation Bill, estimated at N54.4 trillion.

This approval was granted after the Senate reviewed and debated a report by the Chairman of the Senate Committee on Finance, Senator Sani Musa, during a plenary session on Tuesday. The MTEF and FSP had previously received endorsement from the Federal Executive Council during its meeting on December 3, 2025.

Under this framework, the projected exchange rates are set at N1,512 to the dollar for 2026, N1,432.15 for 2027, and N1,383.18 for 2028, in accordance with the Central Bank of Nigeria’s policy on exchange rate stability.

Despite a cautious outlook on oil prices, the Senate maintained crude oil production estimates at 1.84 million barrels per day for 2026, 1.88 million barrels per day for 2027, and 1.92 million barrels per day for 2028, citing confidence in ongoing reforms within the oil and gas sector.

Lawmakers also upheld real GDP growth projections of 4.68 percent for 2026, 5.96 percent for 2027, and 7.9 percent for 2028, attributing this optimistic outlook to anticipated benefits from tax reforms and broader economic restructuring.

For fiscal operations in 2026, the Senate approved Federal Government retained revenue of N34.33 trillion, new borrowings of N17.88 trillion, and debt servicing of N15.52 trillion, resulting in a fiscal deficit of N20.13 trillion.

The framework also allocates N1.376 trillion for pensions, gratuities, and retirees’ benefits; N20.131 trillion for capital expenditure excluding transfers; N3.152 trillion for statutory transfers; and N388.54 billion for the Sinking Fund. The total recurrent non-debt expenditure is set at N15.265 trillion, while special intervention funds for recurrent and capital spending are established at N200 billion and N14 billion, respectively.

Meanwhile, DAILY POST reports that, as of Wednesday, the House of Representatives has yet to approve the budget framework.

Eze Chidiebere Paul

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