President Bola Tinubu is expected to present the 2026 budget at a joint session of the National Assembly today.
The presentation is scheduled for 2 p.m.
Tinubu had written to the Senate seeking its confirmation for the presentation of the annual budget.
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According to the letter read by the Senate President, Godswill Akpabio, during plenary, the President proposed to present the budget to a joint session of the National Assembly.
Although the proposed timing sparked concerns among some lawmakers, who noted that the time coincided with the Muslim prayers and urged that the schedule be reconsidered, Akpabio agreed to consult with the President on the matter.
2025 Budget
Tinubu presented a ₦49.7tn budget proposal for 2025 before a joint session of the National Assembly on December 18, 2024.
He listed some of the highlights of the budget as defence and security – ₦4.91tn, infrastructure – ₦4.06tn, health – ₦2.4tn, education – ₦3.5tn, among others.
The budget proposal was about ₦20tn higher than that of 2024.
In December 2023, Tinubu presented the 2024 budget proposal of ₦27.5tn, his first, before the National Assembly, but the Senate increased the bill by ₦1.2tn and approved ₦28.7tn for the 2024 budget.
In the 2025 budget, the President pegged crude oil production at 2.06 million barrels per day for 2025.
He also projected that the importation of finished petroleum products would reduce in 2025 while the exportation of refined petroleum products would increase.
Tinubu expressed commitment to economic renewal and said the economy was responding to stimulus and that his government would continue to take the right steps for economic progress.
“The reforms yielding results, no reversals,” he said.
While acknowledging that the nation faces an existential threat from corruption and insecurity, he added, “These challenges are surmountable when we work collaboratively. We must rewrite the narrative of this nation.
“The time for lamentation is over. The time to act is now.”
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