President Bola Tinubu has written to the House of Representatives seeking audience to present the 2026 Appropriation Bill.
In a letter read on the floor of the house on Thursday by the Speaker, Abbas Tajudeen, Tinubu requested to be scheduled for noon to present the bill to 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 1200hrs 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 (MTEF) and Fiscal Strategy Paper (FSP) currently under review in the house, the total size of the expected budget is N54.46tn, of which N34.33tn is the retained revenue.
The new borrowings stood at N17.88tn which constitutes both domestic and foreign borrowings, while debt service was valued at N15.52tn, with pensions, gratuities and retirees’ benefits standing at N1.376tn and fiscal deficit at N20.13tn.
The capital expenditure is projected at N20.13tn, which is exclusive of transfers and statutory transfers standing at N3.15tn and Sinking Fund projected at N388.54bn.
The total recurrent (non-debt) is projected at N15.265tn, while special interventions for recurrent and capital are pegged at N200bn and N14bn respectively.
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