President Bola Tinubu is set to present the 2026 budget at a joint session of the National Assembly today, with the session scheduled to begin at 2 p.m.
The President had written to the Senate seeking approval for the presentation, a request confirmed by Senate President Godswill Akpabio during plenary. Some lawmakers raised concerns over the timing, noting it coincides with Muslim prayer hours, prompting Akpabio to consult with the President on a possible adjustment.
In his previous budget presentations, Tinubu proposed a ₦49.7 trillion budget for 2025, highlighting allocations for defence and security (₦4.91tn), infrastructure (₦4.06tn), health (₦2.4tn), and education (₦3.5tn), among others. This was about ₦20tn higher than the 2024 budget.
For 2025, crude oil production was pegged at 2.06 million barrels per day, with projected reductions in imported petroleum products and increased exports of refined petroleum products.
Tinubu has emphasised his commitment to economic renewal, stating that reforms are yielding results and asserting that challenges like corruption and insecurity can be overcome through collaborative efforts. “These challenges are surmountable when we work collaboratively. We must rewrite the narrative of this nation,” he said.
