The Senate has passed the 2026–2028 Medium-Term Expenditure Framework, MTEF, and Fiscal Strategy Paper, FSP, paving the way for President Bola Tinubu to present the 2026 Appropriation Bill, estimated at N54.4 trillion, later this week.
The passage followed the consideration and debate of a report presented by the chairman of the Senate Committee on Finance, Senator Sani Musa, during plenary on Tuesday.
Senate President Godswill Akpabio, announcing the approval, described the MTEF as a statutory requirement that must precede the presentation of the national budget.
Akpabio stressed that it does not represent the final position of the legislature.
“The Medium-Term Expenditure Framework is only a prerequisite before the presentation of the budget. What we are discussing here is not a finality. If circumstances change, it will be brought back to us to rejig, react or act,” Akpabio said.
According to him, the passage of the framework would enable the National Assembly to receive the 2026 budget proposal between now and Thursday.
The President of the Senate further explained that the document remains open to review once the full budget is formally laid before lawmakers.
He said he is optimistic that the projections contained in the MTEF would be realistic enough to support the effective implementation of the Federal Government’s Renewed Hope Agenda.
