December 11, (THEWILL) — President Bola Tinubu has forwarded the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the Senate for legislative consideration, formally kicking off the process leading to the presentation of the 2026 national budget.
The transmission, a key step in Nigeria’s annual budget cycle, outlines the fiscal assumptions, revenue projections and expenditure benchmarks that will guide federal spending over the next three years.
The document had earlier secured approval from the Federal Executive Council on December 5.
At Thursday’s plenary, Deputy Senate President Barau Jibrin read the president’s communication to lawmakers and referred the fiscal framework to the Senate Committee on Finance. The committee was directed to scrutinise the document and submit its report by Wednesday, December 17.
In line with this development, the Senate adjourned plenary to enable relevant committees to begin work on the framework.
The MTEF/FSP serves as the backbone of the federal budgeting process, offering lawmakers and policymakers a structured outlook on Nigeria’s fiscal direction and spending priorities for the medium term.
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