Chukwu David 
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President Bola Tinubu on Thursday submitted the Federal Government’s 2026–2028 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the Senate, urging lawmakers to expedite consideration to enable timely preparation of the 2026 national budget.
In his letter to Senate President Godswill Akpabio, read during plenary, Tinubu emphasized that the approved MTEF and FSP, endorsed by the Federal Executive Council on December 3, 2025, provide key assumptions and fiscal parameters that will guide the 2026 budget formulation.
“The 2026 budget will be prepared based on the parameters and fiscal assumptions of the 2026–2028 MTEF and FSP. I seek the cooperation of the National Assembly for expeditious legislative action,” the President stated.
The documents outline revenue expectations, spending plans, deficit targets, debt management strategies, and macroeconomic indicators for the next three years. The FEC set an oil price benchmark of $64.85 per barrel and a budget exchange rate of N1,512 to $1, forming the basis for revenue projections and expenditure limits.
The MTEF/FSP also highlights government priorities in infrastructure, security, and social services, providing strategic direction for national economic planning. Committees in both chambers are expected to examine the documents before full legislative approval.
