KEY POINTS

• President Tinubu is set to present the 2026 budget at a joint session of the National Assembly, with the address scheduled for 2 pm

• Lawmakers raised concerns about the timing of the presentation, citing a clash with Muslim prayers, prompting assurances of consultations

• The presentation follows Tinubu’s record ₦49.7 trillion 2025 budget, which prioritised security, infrastructure, education and health

President Bola Tinubu is expected to present Nigeria’s 2026 budget proposal at a joint sitting of the National Assembly today, marking another key moment in his administration’s push to stabilise the economy and reset public finances amid mounting fiscal pressures.

The presentation is scheduled for 2 pm, according to a letter sent by the President to the Senate and read during plenary by Senate President Godswill Akpabio. In the correspondence, Tinubu formally sought the approval of lawmakers to address both chambers of parliament and lay out his government’s spending plans for the coming year.

While the proposal to address a joint session was approved, the timing of the presentation drew concerns from some legislators, who pointed out that the slot coincides with Muslim prayers on a Friday. They urged the leadership of the National Assembly to consider an adjustment to ensure broader participation. Akpabio said he would engage the Presidency on the issue, signalling a possible review of the schedule.

Despite the debate over timing, expectations are high that the 2026 budget will provide further clarity on the administration’s economic direction, particularly following a series of reforms that have reshaped Nigeria’s fiscal and monetary landscape over the past two years.

Building on a record 2025 spending plan

Tinubu’s appearance before the National Assembly comes against the backdrop of his 2025 budget, which he presented in December 2024 and which, at ₦49.7 trillion, was the largest spending proposal in the country’s history at the time. The budget placed heavy emphasis on defence and security, which received ₦4.91 trillion, alongside infrastructure at ₦4.06 trillion, education at ₦3.5 trillion and health at ₦2.4 trillion.

The 2025 proposal was nearly ₦20 trillion higher than the 2024 budget of ₦28.7 trillion, which itself had been increased by lawmakers from the original ₦27.5 trillion proposal submitted by the President in December 2023. Tinubu justified the sharp rise in expenditure by pointing to inflationary pressures, rising debt servicing costs and the need to stimulate growth in a fragile economy.

In outlining the assumptions underpinning the 2025 budget, the President projected crude oil production at 2.06 million barrels per day and expressed confidence that ongoing reforms in the petroleum sector would reduce imports of refined fuel while boosting exports of locally refined products.

Addressing lawmakers at the time, Tinubu said the economy was beginning to respond to policy measures introduced since he took office. “The reforms yielding results, no reversals,” he told the joint session, signalling his resolve to stay the course despite public criticism and short-term pain.

He also acknowledged the scale of Nigeria’s challenges, particularly corruption and insecurity, but struck an optimistic tone about the country’s prospects. “These challenges are surmountable when we work collaboratively. We must rewrite the narrative of this nation,” the President said, adding that “the time for lamentation is over. The time to act is now.”

Analysts expect the 2026 budget to deepen this reform agenda, with continued focus on security spending, infrastructure development and social investment, even as revenue constraints and debt sustainability remain pressing concerns.