National News
Tinubu arrives National Assembly to Present 2026 budget
President Bola Tinubu has arrived at the National Assembly to present the 2026 appropriation bill to lawmakers.
The president entered the chamber of the House of Representatives at exactly 3:00 pm to address a joint session of the National Assembly.
The budget presentation follows the approval of the 2026 expenditure framework by the Federal Executive Council (FEC) on Friday.
During the joint session, Tinubu is expected to outline the federal government’s fiscal priorities, revenue projections, and spending plans for the 2026 financial year.
Last week, the president transmitted the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the National Assembly for consideration.
On December 16, the Senate passed the MTEF but approved a downward review of the crude oil benchmark price for 2026, reducing it from $64.85 per barrel to $60.
However, the House of Representatives retained the president’s proposed crude oil benchmark of $64.85 per barrel.
Both chambers also approved projected domestic crude oil production levels of 1.84 million barrels per day (mbpd) for 2026, 1.88 mbpd for 2027, and 1.92 mbpd for 2028.
In addition, the National Assembly approved projected exchange rates of N1,512, N1,432.15, and N1,383.18 for the 2026, 2027, and 2028 fiscal years, respectively.
More details are expected from the president’s address to lawmakers.
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