The Senate has passed the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), clearing the way for President Bola Tinubu to present the 2026 Appropriation Bill, estimated at ₦54.4 trillion.
The approval followed the consideration of a report by the Chairman of the Senate Committee on Finance, Senator Sani Musa, during plenary on Tuesday.
Senate President Godswill Akpabio said the MTEF is a statutory requirement that must be approved before the national budget can be presented. He noted that the framework does not represent the final position of the legislature.
He said the passage would allow the National Assembly to receive the 2026 budget proposal between now and Thursday, adding that the document remains subject to review once the full budget is laid before lawmakers.
Akpabio expressed confidence that the projections in the framework would support the effective implementation of the Federal Government’s Renewed Hope Agenda.
During deliberations, Senator Mohammed Monguno described the fiscal assumptions in the framework as realistic, citing the crude oil production benchmark of 1.84 million barrels per day as achievable.
