President Bola Tinubu has arrived at the national assembly to present the 2026 appropriation bill.
The president walked into the chamber of the house of
representatives at exactly 3:00 pm.
The development comes after the federal executive council
(FEC) approved the 2026 expenditure on Friday.
At the national assembly, Tinubu will address a joint
session of the parliament on the 2026 appropriation bill.
Last week, the president transmitted the 2026-2028
medium-term expenditure framework (MTEF) and fiscal strategy paper (FSP) to the
national assembly.
The senate, on December 16, passed the MTEF but approved a
downward review of the crude oil benchmark price for 2026 to $60 per barrel,
from $64.85.
But the lower legislative chamber endorsed the projected
crude oil benchmark of $64.85, proposed by the president.
Both chambers retained the projected domestic crude oil
production of 1.84 million barrels per day (mbpd), 1.88 mbpd, and 1.92 mbpd for
2026, 2027, and 2028, respectively.
The national assembly approved a projected exchange rate of
N1,512, N1,432.15, and N1,383.18 for the 2026-2028 fiscal year.
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