National News
BREAKING: FEC gives nod to 2026 Budget
The Federal Executive Council (FEC) has approved the 2026 budget, paving the way for President Bola Tinubu to present it to a joint session of the National Assembly on Friday afternoon.
Dada Olusegun, the President’s Special Assistant on Social Media, confirmed the development in a statement on his X handle.
“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 FEC’s approval follows a series of meetings in which key parameters of the 2026–2028 Medium-Term Expenditure Framework, MTEF, and Fiscal Strategy Paper were reviewed.
Among the decisions taken, the Council had earlier approved an oil price benchmark of $64.85 per barrel and a budget exchange rate of N1,512 to one US dollar for the 2026 fiscal year.
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