FEC clears 2026 budget, Tinubu heads to N’Assembly for presentation today

The Federal Executive Council (FEC) has approved the 2026 Appropriation Bill, paving the way for its formal presentation to a joint session of the National Assembly later today by President Bola Ahmed Tinubu.

The development was confirmed on Friday by the President’s Special Assistant on Social Media, Dada Olusegun, in a brief post on his X handle.

According to him, “The Federal Executive Council has approved the 2026 Budget, and it is now ready for presentation to a joint session of the National Assembly this afternoon by the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, Bola Ahmed Tinubu.”

The approval followed a series of FEC meetings where key fiscal assumptions for the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper were deliberated upon.

As part of the framework, the Council earlier adopted an oil price benchmark of $64.85 per barrel and fixed the budget exchange rate at ₦1,512 to the US dollar for the 2026 fiscal year.

The presentation of the budget will formally kick-start the 2026 budget process at the National Assembly.