He described the proposal as a continuation of policies aimed at stabilising the economy, strengthening public finance and improving the welfare of citizens.
President Bola Tinubu on Friday laid the 2026 Appropriation Bill before a joint session of the National Assembly, pledging that his administration would deliver on the full promise of the Renewed Hope Agenda as it enters another fiscal year.
Presenting the budget at the National Assembly complex in Abuja, the President said the 2026 estimates were designed to consolidate ongoing reforms while driving shared prosperity for Nigerians.
He described the proposal as a continuation of policies aimed at stabilising the economy, strengthening public finance and improving the welfare of citizens.
Addressing lawmakers, Tinubu said, "We will deliver the full promise of the renewed hope agenda. It is therefore my great pleasure to present before this distinguished joint session of the national assembly, the 2026 appropriation bill of the federal republic of Nigeria titled budget of consolidation, renewed hope and shared prosperity."
The President urged the Senate and House of Representatives to work closely with the executive in shaping the fiscal direction of the country, stressing that effective collaboration was crucial to sustaining reforms and meeting national development goals.
He added, "I seek your partnership, in charging the nation's fiscal pool for the coming years. May God bless you all, bless the federal republic of Nigeria."
The presentation followed an emergency session of the Federal Executive Council earlier in the day, during which the budget proposal was finalised ahead of its transmission to the legislature.
Lawmakers are expected to commence scrutiny of the estimates in the coming days as the appropriation process for the 2026 fiscal year begins.
Earlier, SaharaReporters reported that President Tinubu on Friday convened an emergency session of the Federal Executive Council (FEC) at the Council Chambers of the State House, Abuja, to formally stamp and clear the 2026 Appropriation Bill for transmission to the National Assembly.
The last-minute meeting, chaired by the President, was held just hours before he is scheduled to present the 2026 budget estimates to a joint sitting of the Senate and House of Representatives at 2:00 p.m. on Friday, December 19, 2025.
The emergency session followed a formal notification by President Tinubu to the National Assembly indicating his intention to lay the 2026 Appropriation Bill before lawmakers in his capacity as President and Commander-in-Chief of the Armed Forces.
Vice President Kashim Shettima, who addressed Council members at the opening of the meeting, said the session was convened specifically to grant final executive approval to the budget proposals ahead of their submission to the legislature. According to him, the Council was meeting to “put the stamp of approval” on the 2026 budget estimates.
The development underscores the administration’s effort to conclude all executive processes surrounding the budget before its formal presentation, ensuring that the estimates laid before lawmakers reflect the collective decision of the Federal Executive Council.
The emergency session also builds on deliberations held earlier this month. On December 3, the FEC reviewed and approved critical parameters underpinning the 2026 fiscal framework, including the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper.
At that earlier meeting, the Council 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—figures expected to shape revenue projections and expenditure ceilings in the proposed budget.
Those in attendance at Friday’s emergency meeting included Vice President Kashim 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 members of the Federal Executive Council.
On Thursday, SaharaReporters reported that President Bola Tinubu formally asked the House of Representatives for permission to appear before the National Assembly to present the 2026 Appropriation Bill.
The request was contained in a letter read on the floor of the House on Thursday by the Speaker, Abbas Tajudeen, informing lawmakers of the President’s proposed appearance before a joint session.