The Federal Executive Council has approved the 2026 Budget, allowing President Bola Ahmed Tinubu to present it to a joint session of the National Assembly this afternoon.
The announcement was made on Friday by the President’s Special Assistant on Social Media, Dada Olusegun, via his X account.
“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 approval follows a series of FEC meetings reviewing key components of the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper.
The Council also 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.
