President Bola Tinubu has written to the House of Representatives, seeking an audience to present the 2026 Appropriation Bill.
In a letter read on the floor of the House on Thursday by the Speaker, Abbas Tajudeen, the President requested to be scheduled to present the bill 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.
In the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper (FSP) currently under consideration by the House, the total size of the proposed budget is N54.46 trillion, out of which N34.33 trillion is expected as retained revenue.
New borrowings are projected at N17.88 trillion, comprising both domestic and foreign loans, while debt service is estimated at N15.52 trillion.
Pensions, gratuities, and retirees’ benefits are projected at N1.376 trillion, with the fiscal deficit estimated at N20.13 trillion.
Capital expenditure is projected at N20.13 trillion, exclusive of transfers and statutory transfers estimated at N3.15 trillion, while the Sinking Fund is projected at N388.54 billion.
Total recurrent (non-debt) expenditure is projected at N15.265 trillion, while special interventions for recurrent and capital expenditures are pegged at N200 billion and N14 billion, respectively.
