President Bola Ahmed Tinubu will on Friday, December 19, 2025, present the 2026 Appropriation Bill to a joint session of the National Assembly.
The President made the request in a letter addressed to the House of Representatives, which was read on the floor of the chamber on Thursday by the Speaker, Abbas Tajudeen.
In the letter, Tinubu sought approval to appear before lawmakers at 12 noon to formally lay the 2026 budget proposal before the National Assembly.
“I write to respectfully request the indulgence of the House to grant me the opportunity to present the 2026 budget to a joint session of the National Assembly at noon on Friday, December 19, 2025,” the letter stated.
Meanwhile, details from the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper currently under consideration by the lawmakers indicate that the proposed 2026 budget stands at ₦54.46 trillion.
Out of the total sum, the Federal Government projects ₦34.33 trillion as retained revenue, while ₦17.88 trillion is expected to be financed through new borrowings, both domestic and foreign.
Debt servicing for the 2026 fiscal year is estimated at ₦15.52 trillion, while the fiscal deficit is projected at ₦20.13 trillion.
Capital expenditure is put at ₦20.13 trillion, excluding statutory transfers estimated at ₦3.15 trillion, while recurrent (non-debt) expenditure is projected at ₦15.27 trillion.
Pensions, gratuities and retirees’ benefits are estimated at ₦1.38 trillion, with a sinking fund provision of ₦388.54 billion.
