Today, President Bola Ahmed Tinubu is scheduled to present the 2026 Appropriation Bill to a joint session of the Senate and the House of Representatives. The presentation, which marks the formal submission of the Federal Government’s fiscal plans to the National Assembly, is set to take place at 2:00 p.m.
In preparation for this, Speaker of the House of Representatives, Abbas Tajudeen, and Senate President Godswill Akpabio read separate letters from President Tinubu to their respective chambers, informing lawmakers of the planned presentation.
The proposed budget size is expected to be around N54.46 trillion. The 2026-2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper (FSP), currently under consideration by the House, projects retained revenue at N34.33 trillion and new borrowings at N17.88 trillion. Debt service is estimated at N15.52 trillion.
In addition to the budget presentation, President Tinubu has also requested the Senate’s confirmation of two appointments for key petroleum regulatory agencies:
- Engr Saidu Muhammad as the chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA). This nomination follows the resignation of the former head, Farouk Ahmed, and is considered urgent to prevent a leadership vacuum.
- Mr Oritsemanori Sewa Inyosa as the chief executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). This nomination is also due to the resignation of the previous head of the commission.
The Senate is expected to promptly consider both nominations.
