Abuja – President Bola Ahmed Tinubu is set to present the 2026 budget estimates, totaling ₦54.46 trillion, to a joint session of the National Assembly on Friday, December 19, 2025, the Clerk to the National Assembly (CNA) confirmed on Wednesday.
According to a memo titled “Presentation of 2026 Budget,” signed by Essien Eyo Essien, Secretary of Human Resources and Staff Development, all accredited personnel are expected at the National Assembly by 11:00 am. Non-accredited persons have been advised to stay away for security reasons.
The 2026 budget proposes FGN retained revenue of ₦34.33 trillion, with new domestic and foreign borrowings totaling ₦17.88 trillion. Debt service is projected at ₦15.52 trillion, while pensions, gratuities, and retirees’ benefits stand at ₦1.376 trillion.
Capital expenditure is set at ₦20.131 trillion, excluding transfers, with statutory transfers of ₦3.152 trillion and a Sinking Fund of ₦388.54 billion. The fiscal deficit is projected at ₦20.13 trillion, and special interventions for recurrent and capital expenditures are pegged at ₦200 billion and ₦14 billion respectively.
The joint Committees on Finance and National Planning, which reviewed submissions from MDAs and GOEs, highlighted projected crude oil benchmark prices of US$64.85, US$64.30, and US$65.50 per barrel for 2026, 2027, and 2028 respectively, recommending slight adjustments to US$60, US$65, and US$70 in recognition of global geopolitical tensions. Inflation rates are projected at 16.5% in 2026, falling to 9% by 2028, while real GDP growth is forecast at 4.68% in 2026, rising to 7.9% in 2028.
The committees also called for the implementation of a National Scanning Policy within the National Single Window of the Nigeria Revenue Services, aimed at enhancing revenue assurance, reducing leakages, and improving trade facilitation.
“The framework for revenues and expenses in the 2026 budget is aligned with ongoing economic reforms and the activation of the new Tax Act, which we anticipate will strengthen national revenue, transparency, and security,” the report added.
The House is expected to approve the 2026–2028 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) following the President’s presentation.
