The Federal Executive Council (FEC) has approved Nigeria’s 2026 Budget, paving the way for its presentation to a joint session of the National Assembly by President Bola Tinubu on Friday afternoon.
The approval was confirmed by the President’s Special Assistant on Social Media, Dada Olusegun, in a statement shared on his X handle. According to him, the budget is now ready for formal presentation by the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria.
The FEC’s decision followed a series of deliberations on the 2026–2028 Medium-Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper, during which key economic assumptions were reviewed.
As part of the framework, the Council had earlier approved an oil price benchmark of $64.85 per barrel and a budget exchange rate of N1,512 to the US dollar for the 2026 fiscal year.
