Security has been significantly tightened at the National Assembly Complex in Abuja ahead of President Bola Ahmed Tinubu’s presentation of the ₦54.46 trillion 2026 Appropriation Bill to a joint session of the National Assembly.
Ahead of the budget presentation, President Tinubu formally notified both chambers of the National Assembly through a letter, requesting to address lawmakers at noon on Friday, December 19, 2025.
The letter was read on the floor of the House of Representatives by Speaker Abbas Tajudeen.
By early Friday, activities around the National Assembly complex were heavily restricted. Business operators and ancillary service providers, including banks and food vendors, remained shut, following directives from the management of the complex in view of the high-profile event.
All access points into the complex were manned by security operatives drawn from the Department of State Services (DSS), the Nigeria Police Force, and the Nigeria Security and Civil Defence Corps (NSCDC). Only essential staff, accredited officials, lawmakers, and a limited number of journalists were allowed entry.
Senate President Godswill Akpabio is expected to preside over the joint session alongside Speaker Abbas Tajudeen.
The presentation will mark President Tinubu’s third budget estimate submission to the National Assembly since assuming office on May 29, 2023. The President is expected to arrive at the complex later in the afternoon.
According to the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) approved by lawmakers, the proposed 2026 budget stands at ₦54.46 trillion, with projected retained revenue of ₦34.33 trillion.
Meanwhile, President Tinubu earlier presided over an emergency meeting of the Federal Executive Council (FEC) at the State House, Abuja, to finalise the 2026 budget proposals before their submission to the legislature.
Speaking at the opening of the meeting, Vice President Kashim Shettima said the session was convened to give final approval to the budget estimates, describing it as necessary to “put the stamp of approval” on the proposals.
The emergency meeting followed a December 3 FEC session during which key parameters of the 2026–2028 MTEF and FSP were reviewed and approved.
These include an oil price benchmark of $64.85 per barrel and a budget exchange rate of ₦1,512 to one US dollar for the 2026 fiscal year.
Under the three-year projections, gross Federation revenue for 2026 is estimated at ₦50.74 trillion, with the Federal Government expected to receive ₦22.60 trillion, states ₦16.30 trillion, and local governments ₦11.85 trillion.
Briefing journalists after the FEC meeting, the Minister of Budget and National Planning, Senator Atiku Bagudu, disclosed that a crude oil production benchmark of 2.06 million barrels per day was approved for 2026, although a more conservative output of 1.8 million barrels per day will be used for budget planning.
Further details of the proposed 2026 budget indicate that new borrowings are projected at ₦17.88 trillion, while debt service is estimated at ₦15.52 trillion.
Capital expenditure is pegged at ₦20.13 trillion, while recurrent (non-debt) expenditure is projected at ₦15.27 trillion. The fiscal deficit is estimated at ₦20.13 trillion.
Other provisions include ₦1.376 trillion for pensions, gratuities and retirees’ benefits, statutory transfers of ₦3.15 trillion, a Sinking Fund of ₦388.54 billion, and special intervention funds for recurrent and capital expenditure amounting to ₦200 billion and ₦14 billion respectively.
Members of the Federal Executive Council present at the emergency session included Vice President Shettima, Secretary to the Government of the Federation Senator George Akume, Head of the Civil Service of the Federation Mrs.
Didi Walson-Jack, Chief of Staff to the President Femi Gbajabiamila, National Security Adviser Mallam Nuhu Ribadu, as well as ministers and other senior government officials.
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