The Federal Executive Council has approved the 2026 Budget, paving the way for its presentation to a joint session of the National Assembly later today by President Bola Ahmed Tinubu
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 where key aspects of the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper were reviewed.
Among the decisions, 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.
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