President Bola Tinubu has formally written to the Senate, requesting approval from the National Assembly to present the 2026 annual budget before a joint sitting of lawmakers.
The request was contained in a letter read by the Senate President during plenary, in which the President proposed Friday at 2 p.m. as the date and time for the budget presentation to a joint session of the National Assembly.
However, the proposed timing immediately generated concerns among some senators, who pointed out that it clashes with Muslim prayer hours. During deliberations on the floor, the lawmakers urged that the schedule be reviewed to accommodate religious obligations.
In response, the Senate President acknowledged the concerns raised and assured the chamber that consultations would be held with the President to address the issue.
It would be recalled that on December 18, 2024, President Tinubu presented a ₦49.7 trillion budget proposal for the 2025 fiscal year to a joint session of the National Assembly. In that presentation, the President outlined major allocations, including ₦4.91 trillion for defence and security, ₦4.06 trillion for infrastructure, ₦2.4 trillion for health, and ₦3.5 trillion for education, among other sectors.
The 2025 budget proposal represented an increase of about ₦20 trillion compared to the 2024 budget.
In December 2023, Tinubu had earlier presented his first budget proposal as President, amounting to ₦27.5 trillion for the 2024 fiscal year, before the National Assembly. The Senate subsequently increased the proposal by ₦1.2 trillion, approving a total of ₦28.7 trillion for the 2024 budget.
For the 2025 budget, the President projected crude oil production at 2.06 million barrels per day and expressed optimism that the importation of finished petroleum products would decline, while exports of refined petroleum products would rise.
During his address at the 2024 budget presentation, Tinubu reaffirmed his administration’s commitment to economic renewal, stating that the economy was already responding to government stimulus measures and that his administration would remain consistent in pursuing economic reforms.
“The reforms yielding results, no reversals,” he said.
“Our nation faces an existential threat from corruption and insecurity…These challenges are surmountable when we work collaboratively. We must rewrite the narrative of this nation.
“The time for lamentation is over. The time to act is now,” the President added.
What you should know
President Bola Tinubu’s request to present the 2026 budget highlights the administration’s adherence to constitutional processes in engaging the National Assembly on fiscal planning.
The concerns raised over the proposed presentation time underscore the need for sensitivity to religious considerations in national engagements. The reference to previous budgets shows a steady rise in government spending, driven largely by security, infrastructure, and social sectors.
Tinubu’s repeated emphasis on reforms reflects his broader economic agenda, which focuses on fiscal restructuring, increased local production, and long-term economic stability.
