9 hours ago
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The Federal Executive Council, FEC, has approved the 2026 Budget, clearing the way for its presentation to a joint session of the National Assembly on Friday afternoon by President Bola Tinubu.
The President’s Special Assistant on Social Media, Dada Olusegun, disclosed this in a statement on his X handle.
“The Federal Executive Council has approved the 2026 Budget, and it is now ready for presentation to a joint session of the National Assembly this afternoon by the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria, Bola Ahmed Tinubu,” the statement read.
The FEC’s approval follows a series of meetings in which key parameters of the 2026–2028 Medium-Term Expenditure Framework, MTEF, and Fiscal Strategy Paper were reviewed.
Among the decisions taken, the Council had earlier approved an oil price benchmark of $64.85 per barrel and a budget exchange rate of N1,512 to one US dollar for the 2026 fiscal year.
