President Bola Tinubu has formally written to the House of Representatives, requesting an opportunity to present the 2026 Appropriation Bill.
The letter, read on the floor of the House on Thursday by Speaker Abbas Tajudeen, indicated that the President seeks to present the bill at noon on Friday, December 19, 2025, during 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 before the House, the total proposed budget stands at N54.46 trillion, with N34.33 trillion expected to come from retained revenue.
According to NAN, new borrowings are projected at N17.88 trillion, encompassing both domestic and foreign loans, while debt servicing is estimated at N15.52 trillion.
Expenditure on pensions, gratuities, and retirees’ benefits is projected at N1.376 trillion, and the fiscal deficit is estimated at N20.13 trillion.
Capital expenditure is set at N20.13 trillion, excluding transfers and statutory allocations projected at N3.15 trillion, while the Sinking Fund is estimated at N388.54 billion.
Total recurrent (non-debt) expenditure is projected at N15.265 trillion, with special interventions for recurrent and capital expenditures pegged at N200 billion and N14 billion, respectively.
