The National Assembly will on Friday hold a joint sitting of both chambers to receive President Bola Ahmed Tinubu’s proposed 2026 Appropriation Bill.
The plan was conveyed to lawmakers through a letter read on Thursday by both chambers.
The letter was read in the House of Representatives by the Speaker, Tajudeen Abbas, and by Godswill Akpabio, the Senate President.
The letter read, “In his capacity as President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, is scheduled to present the 2026 Budget at 2:00 p.m. on Friday.”
Lawmakers were further informed that allowances had been made for any adjustments to the President’s arrival time, with members expected to reconvene in the House of Representatives chamber by 1:45 p.m. ahead of the address.
The budget presentation formally signals the transmission of the Federal Government’s spending and revenue proposals to the National Assembly, where they will be subjected to legislative consideration, debate and approval in in the coming weeks.
The Senate on Tuesday approved the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP), cutting Nigeria’s crude oil price benchmark in a move lawmakers said reflects growing volatility in the global oil market.
Read also: Senate cuts oil benchmark to $60, passes 2026–28 MTEF/FSP to cushion global shocks
Presenting the report, Sani Musa (APC, Niger East), Chairman of the Senate Committee on Finance, said the committee reviewed the Federal Government’s oil price assumptions and recommended a downward adjustment “in recognition of the global geopolitical tensions in Europe and the Middle East and the sensitivity of global crude oil prices.”
Under the revised framework, the Senate reduced the projected oil price benchmarks from the executive proposal of $64.85, $64.30 and $65.50 per barrel for 2026, 2027 and 2028 to $60 for 2026, $65 for 2027 and $70 for 2028.
