President Bola Ahmed Tinubu will on Friday, December 19, 2025, present the 2026 Appropriation Bill to a joint session of the National Assembly.<\/p>\n
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.<\/p>\n
In the letter, Tinubu sought approval to appear before lawmakers at 12 noon to formally lay the 2026 budget proposal before the National Assembly.<\/p>\n
\u201cI 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,\u201d the letter stated.<\/p>\n
Meanwhile, details from the 2026\u20132028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper currently under consideration by the lawmakers indicate that the proposed 2026 budget stands at \u20a654.46 trillion.<\/p>\n
Out of the total sum, the Federal Government projects \u20a634.33 trillion as retained revenue, while \u20a617.88 trillion is expected to be financed through new borrowings, both domestic and foreign.<\/p>\n
Debt servicing for the 2026 fiscal year is estimated at \u20a615.52 trillion, while the fiscal deficit is projected at \u20a620.13 trillion.<\/p>\n
Capital expenditure is put at \u20a620.13 trillion, excluding statutory transfers estimated at \u20a63.15 trillion, while recurrent (non-debt) expenditure is projected at \u20a615.27 trillion.<\/p>\n
Pensions, gratuities and retirees\u2019 benefits are estimated at \u20a61.38 trillion, with a sinking fund provision of \u20a6388.54 billion.<\/p>\n
\n","protected":false},"excerpt":{"rendered":"