- 2026 Budget: Tinubu to Address Joint Session of National Assembly Friday
- The memo stated that only accredited personnel would be granted access to the National Assembly Complex during the budget presentation
- Essien stressed the need for strict compliance with the instructions
President Bola Ahmed Tinubu is expected to present the proposed 2026 Federal Budget to a joint session of the National Assembly on Friday, December 19, 2025, at 2:00 pm, subject to any last-minute changes.
Eko Hot Blog reports that the development was conveyed in a memo dated December 17 and circulated to National Assembly staff by the Secretary of Human Resources and Staff Development, Adm. Essien Eyo Essien.
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The memo stated that only accredited personnel would be granted access to the National Assembly Complex during the budget presentation.
According to the directive, all accredited staff are required to report to their duty posts no later than 11:00 am, as access restrictions will be enforced afterward. Non-accredited individuals were also advised to stay away from the complex.
The memo further directed that, except for the Clerk of the National Assembly, Deputy Clerk, Chief Secretary, Chief Human Resources Officer and their deputies, all staff must park their vehicles at the Annex or the new car park near the National Assembly gate.
Essien stressed the need for strict compliance with the instructions to ensure a smooth and hitch-free budget presentation.
President Tinubu’s scheduled appearance follows the Senate’s approval of the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), paving the way for the presentation of the 2026 Appropriation Bill estimated at ₦54.4 trillion.
The Senate approval came after deliberations on a report presented by the Chairman of the Senate Committee on Finance, Senator Sani Musa, during plenary on Tuesday. The MTEF and FSP had earlier received Federal Executive Council approval at its meeting on December 3, 2025.
Under the approved framework, the projected exchange rate was set at ₦1,512 per dollar for 2026, ₦1,432.15 for 2027, and ₦1,383.18 for 2028, in line with the Central Bank of Nigeria’s exchange rate stability policy.
Despite a cautious oil price outlook, lawmakers retained crude oil production benchmarks of 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 oil and gas sector reforms.
The Senate also upheld real GDP growth projections of 4.68 percent for 2026, 5.96 percent for 2027, and 7.9 percent for 2028, attributing the outlook to anticipated gains from tax reforms and broader economic restructuring.
For 2026 fiscal operations, approved figures include Federal Government retained revenue of ₦34.33 trillion, new borrowings of ₦17.88 trillion, and debt servicing of ₦15.52 trillion, resulting in a fiscal deficit of ₦20.13 trillion.
The framework further provides ₦1.376 trillion for pensions and retirees’ benefits, ₦20.131 trillion for capital expenditure excluding transfers, ₦3.152 trillion for statutory transfers, and ₦388.54 billion for the Sinking Fund. Total recurrent non-debt expenditure was pegged at ₦15.265 trillion, while special intervention funds were set at ₦200 billion for recurrent spending and ₦14 billion for capital projects.
Meanwhile, the House of Representatives is yet to approve the budget framework as of Wednesday.
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