PRESIDENT Bola Tinubu has written to the Senate seeking the confirmation of the National Assembly for the presentation of the 2026 annual budget.
News Point Nigeria reports that according to the letter read by the Senate President during plenary, the President proposed to present the budget to a joint session of the National Assembly on Friday at 2pm.
The proposed timing sparked concerns among some lawmakers, who noted that the time coincided with the Muslim prayers.
They raised objections during plenary, urging that the schedule be reconsidered.
The Senate President has agreed to consult with the President on the matter.
On December 18, 2024, Tinubu presented a ₦49.7tn budget proposal for 2025 before a joint session of the National Assembly.
The President listed some of the highlights of the budget as defence and security – ₦4.91tn, infrastructure – ₦4.06tn, health – ₦2.4tn, education – ₦3.5tn, among others.
The budget proposal was about ₦20tn higher than that of 2024.
In December 2023, Tinubu presented the 2024 budget proposal of ₦27.5tn, his first, before the National Assembly.
The Senate increased the bill by ₦1.2tn and approved ₦28.7tn for the 2024 budget.
In the 2025 budget, the President pegged crude oil production at 2.06 million barrels per day for 2025.
He also projected that the importation of finished petroleum products would reduce in 2025 while the exportation of refined petroleum products would increase.
Tinubu expressed commitment to economic renewal and said the economy was responding to stimulus and that his government would continue to take the right steps for economic progress.
“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 during the presentation in 2024.