BREAKING: Federal Executive Council Greenlights 2026 National Budget for Assembly Submission
Story: written by Myra December 19,2025
The Federal Executive Council (FEC) has given the go-ahead to the 2026 national budget, paving the path for President Bola Tinubu to present it to a joint sitting of the National Assembly this Friday afternoon.
This development was announced by the President’s Special Assistant on Social Media, Dada Olusegun, via a post on his X account.
“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 statement said.
The approval comes after extensive deliberations on the key elements of the 2026–2028 Medium-Term Expenditure Framework (MTEF) and the associated Fiscal Strategy Paper.
In prior sessions, the Council had set the benchmark oil price at $64.85 per barrel and adopted an exchange rate of ₦1,512 per US dollar for the upcoming fiscal year.
