Federal Executive Council Approves Nigeria's 2026 Budget, President Tinubu to Present to National Assembly

The Federal Executive Council has given approval for Nigeria's 2026 budget, signaling a crucial step in the fiscal process. President Bola Ahmed Tinubu is set to formally present the budget to a joint session of the National Assembly for approval.

The budget approval comes after strategic meetings focusing on the medium-term expenditure framework and fiscal strategy paper. Key economic benchmarks for the 2026 fiscal year, including an oil price benchmark of $64.85 per barrel and an exchange rate of 1.512 on the US dollar, were agreed upon.

Once presented to the National Assembly, the budget will undergo scrutiny, debates, and possible adjustments before final approval.