President Bola Tinubu has submitted the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper to the House of Representatives, seeking the legislature’s approval.

During Wednesday’s plenary, the letter from Tinubu was read by Deputy Speaker Benjamin Kalu, who presided over the session, urging lawmakers to consider the documents promptly.

“It is with pleasure that I forward the 2026 to 2028 Medium-Time Expenditure Framework and Fiscal Strategy Paper, MTEF and FSP for the kind consideration and approval of the House of Representatives.

“The 2026 to 2028 MTEF and FSP were approved during the Federal Executive Council meeting of December 3, 2025, as the 2026 budget of the Federal Government will be prepared, based on the parameters and fiscal assumptions of the approved 2026 to 2028 MTEF and FSP,” the letter read.

Last week, the Federal Executive Council endorsed the 2026–2028 MTEF and FSP, setting the oil price benchmark at $64.85 per barrel and a budget exchange rate of N1,512 to $1 for the 2026 fiscal year.