The National Assembly (NASS) on Friday pledged rigorous oversight of the 2026 Appropriation Bill, saying lessons from the implementation challenges of the 2025 budget would guide lawmakers’ consideration of the new fiscal proposal.
The assurance was given by the Speaker of the House of Representatives, Tajudeen Abbas, during a joint sitting of the National Assembly in Abuja, where President Bola Tinubu presented the 2026 budget estimates.
The President, who arrived at exactly 2.59 pm, was accompanied by Vice‑President Kashim Shettima, APC National Chairman Professor Nentawe Goshwe Yilwatda and National Security Adviser Nuhu Ribadu.
The President was also joined by several APC governors, including Babajide Sanwo‑Olu of Lagos, Bassey Otu of Cross River, Sheriff Oborevwori of Delta, Siminalayi Fubara of Rivers, Dapo Abiodun of Ogun, Hope Uzodimma of Imo, Umo Eno of Akwa Ibom, Hyacinth Alia of Benue, and AbdulRahman AbdulRazaq of Kwara State.
Abbas said while the economy had shown signs of recovery and stability in 2025, volatility in global oil markets and optimistic fiscal assumptions had exposed the risks of overreliance on crude oil revenues, making realism and discipline imperative in the 2026 budget framework.
He noted that fluctuations in crude oil prices and exchange rates tested projections in the outgoing fiscal year and underscored the need for prudent budgeting and diversified revenue sources.
“The experience of 2025 reinforced our understanding that credible budgets must be built on realistic assumptions, disciplined execution and resilient fiscal frameworks,” the Speaker said.
According to him, data from the National Bureau of Statistics showed that Nigeria recorded positive growth in 2025, with real GDP approaching four per cent, while inflationary pressures eased following the rebasing of the Consumer Price Index.
Abbas also said external sector indicators had improved, citing better foreign exchange reserves, rising export receipts and sustained remittance inflows, developments acknowledged by the World Bank and the International Monetary Fund as signs of improved macroeconomic credibility.
The Speaker said the National Assembly would ensure that the 2026 budget translates economic reforms into tangible benefits for citizens, including job creation, higher incomes and expanded opportunities.
He particularly welcomed President Tinubu’s directive that Nigeria must operate a single fiscal framework, describing the move as a critical step towards restoring order and transparency in public finance.
He said, “Mr President, one of the most reassuring signals of reform maturity in your approach to the 2026 Budget is your clear directive that Nigeria must operate with one budget and one fiscal framework, along with your clear determination to deepen fiscal realism and restore order to the budgeting process.
“Your insistence that there should be no parallel budgets, no multiple spending windows, and no fragmented fiscal authorities speaks to discipline, clarity, and respect for due process. It restores order to public finance and ensures that every Naira appropriated by this Parliament aligns with national priorities.
“The National Assembly welcomes this stance. It reinforces confidence that the 2026 Budget is not merely expansive, but orderly, not merely ambitious, but disciplined. This approach reassures the National Assembly that the 2026 Budget is not only ambitious but also achievable, not only expansive but also grounded, and designed for precise implementation rather than approximation.
On security, the Speaker stressed that effective security funding was central to economic development, food production and investor confidence, adding that lawmakers would monitor the use of funds allocated to the sector to ensure measurable improvements in safety nationwide.
He also described the new tax laws to take effect in 2026 as pivotal to strengthening non-oil revenues, reducing leakages and financing government obligations sustainably.
Abbas assured that lawmakers would treat the budget proposal with urgency and patriotism, insisting that every naira appropriated must deliver value to Nigerians
