PRESIDENT Bola Tinubu has requested that the National Assembly approve the 2026-2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
The Deputy Senate President, Barau Jibrin, read Tinubu’s letter during plenary in the Senate on Thursday, December 11.
The president said he transmitted the documents “for the kind consideration and approval of the distinguished senators”.
He said the 2026-2028 MTEF and FSP were approved at the Federal Executive Council (FEC) meeting of December 3, 2025.
The president said the 2026 budget would be prepared based on the fiscal assumptions and parameters contained in the approved MTEF and FSP.
He asked lawmakers for “expeditious legislative action” on the submission.
The Deputy Senate President referred the documents to the committee on finance and asked the committee to report back to the Senate on December 17.
Tinubu had on Wednesday, December 10, transmitted the 2026-2028 MTEF and FSP to the House of Representatives for consideration and approval.
The Deputy Speaker of the House, Benjamin Kalu, read the president’s letter at the plenary.
Tinubu said the framework would guide the preparation of the 2026 national budget.
“It is with pleasure that I forward the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper (MTEF and FSP) for the kind consideration and approval of the House of Representatives,” the President wrote.
“The 2026 budget of the Federal Government will be prepared based on the parameters and fiscal assumptions of the approved 2026–2028 MTEF and FSP,” he added.
The ICIR reports that the MTEF submission to the National Assembly plays a crucial role in Nigeria’s budget process.
It serves as a fiscal roadmap that outlines the government’s macroeconomic projections, strategic priorities and expenditure plan for the next three years.
It further provides a template guide for the annual budget preparation, ensuring alignment with the government’s medium-term goals and objectives.
MTEF further provides a macroeconomic framework, a fiscal strategy paper, an expenditure and revenue framework, and a consolidated statement on the Federal Government’s borrowings and debts.
Harrison Edeh is a journalist with the International Centre for Investigative Reporting, always determined to drive advocacy for good governance through holding public officials and businesses accountable.