The Nigerian Senate has approved the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), setting the stage for President Bola Ahmed Tinubu to present the 2026 Appropriation Bill, estimated at N54.4 trillion, later this week.
The approval followed deliberations on a report presented during Tuesday’s plenary by the Chairman of the Senate Committee on Finance, Senator Sani Musa.
Announcing the passage, Senate President Godswill Akpabio described the MTEF as a statutory requirement that must be concluded before the presentation of the national budget. He, however, noted that the framework does not represent the final position of the legislature.
“The Medium-Term Expenditure Framework is only a prerequisite before the presentation of the budget. What we are discussing here is not a finality. If circumstances change, it will be brought back to us to rejig, react, or act,” Akpabio said.
According to him, the approval will enable the National Assembly to receive the 2026 budget proposal between now and Thursday. He added that the framework remains subject to review once the full budget is formally presented to lawmakers.
Akpabio expressed confidence that the projections contained in the MTEF would be realistic enough to support the effective implementation of the Federal Government’s Renewed Hope Agenda.
President Tinubu had earlier transmitted the 2026–2028 MTEF and Fiscal Strategy Paper to the National Assembly, officially kicking off the 2026 budget process.
