FEC Approves 2026 Budget, Sets Stage For Tinubu’s National Assembly Presentation

The Federal Executive Council has given the green light to the 2026 Budget, clearing the way for President Bola Ahmed Tinubu to present it to a joint session of the National Assembly this afternoon.

The approval was confirmed 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,” Olusegun’s statement read.

The decision follows extensive FEC discussions reviewing key elements of the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper.

Among the key parameters approved, the Council set 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.