President Bola Tinubu has written to the House of Representatives requesting an audience to introduce the 2026 Appropriation Bill.
In a letter read on the House floor on Thursday by Speaker Abbas Tajudeen, the president requested that the law be presented at noon on Friday, December 19, 2025, before a joint session of the National Assembly.
“I write to crave the kind indulgence of the House of Representatives to grant me the slot of 12:00 noon on Friday, December 19, 2025, to formally present the 2026 budget to a joint session of the National Assembly,” the letter read.
The proposed budget in the 2026-2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper (FSP), which is now being considered by the House, totals N54.46 trillion, with N34.33 trillion estimated as retained income.
According to NAN, new borrowings are expected to total N17.88 trillion, including both domestic and foreign loans, with debt servicing forecast at N15.52 trillion.
Pensions, gratuities, and retiree benefits are predicted to total N1.376 trillion, with a budget deficit of N20.13 trillion.
Capital spending is expected to be N20.13 trillion, excluding transfers and statutory transfers, which are forecast to be N3.15 trillion, with a Sinking Fund of N388.54 billion.
The total recurring (non-debt) expenditure is anticipated to be N15.265 trillion, with special interventions for recurrent and capital expenditures at N200 billion and N14 billion, respectively.
