The Federal Executive Council has given its approval to the 2026 Budget, paving the way for President and Commander-in-Chief of the Armed Forces, Bola Ahmed Tinubu, to present it to a joint sitting of the National Assembly later today.
The development was announced on Friday in a brief statement shared on X by the President’s Special Assistant on Social Media, Dada Olusegun.
The statement read, “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 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 ₦1,512 to one US dollar for the 2026 fiscal year.