President Bola Tinubu has sent the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper to the House of Representatives for consideration.
Okay News reports that the President’s letter was read during plenary, where lawmakers confirmed that the document sets out revenue targets, spending plans and fiscal assumptions that will shape the 2026 budget cycle.
Tinubu said the fiscal framework outlines government strategies for managing debt, improving revenue collection and sustaining economic reforms over the next three years. He noted that the MTEF forms the foundation for preparing the national budget.
Lawmakers said the document has been transmitted to the Committees on Finance, Appropriations, National Planning and Legislative Budget for detailed scrutiny. The committees are expected to invite ministries, departments and agencies for benchmark and revenue defence sessions.
Officials said the MTEF includes updated projections for oil production, exchange rate benchmarks and non-oil revenue streams believed to be achievable under the current policy direction. They added that the framework also reviews government spending ceilings to limit deficits.
National Assembly sources said early submission of the framework is meant to keep the country on a predictable budget timetable after years of delays that affected project execution and capital releases.
The review process will continue in the coming days before lawmakers adopt the final version, which will guide the drafting of the 2026 national budget.
