President Bola Tinubu has formally written to the House of Representatives, seeking approval to present the 2026 Appropriation Bill.
The letter, read on the floor of the House on Thursday by Speaker Abbas Tajudeen, stated that the President wishes to address a joint session of the National Assembly at 12 noon on Friday, 19 December, 2025.
“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.
According to the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper before the House, the proposed 2026 budget stands at ₦54.46 trillion, with ₦34.33 trillion expected from retained revenue.
New borrowings are projected at ₦17.88 trillion, covering both domestic and external loans, while debt servicing is estimated at ₦15.52 trillion.
Spending on pensions, gratuities, and retirees’ benefits is projected at ₦1.376 trillion, with the fiscal deficit estimated at ₦20.13 trillion.
Capital expenditure is set at ₦20.13 trillion, excluding transfers and statutory allocations of ₦3.15 trillion, while the Sinking Fund is projected at ₦388.54 billion.
Total recurrent (non-debt) expenditure is estimated at ₦15.265 trillion, with special intervention funds for recurrent and capital spending pegged at ₦200 billion and ₦14 billion, respectively.
