President prepares for N54.4 trillion budget laying
President Bola Ahmed Tinubu is scheduled to present the 2026 Appropriation Bill to a joint session of the National Assembly on Friday, December 19, 2025.
This major fiscal event marks the formal transmission of the federal government’s spending plans for the upcoming year. According to reports from Daily Post, the proposed budget is estimated at a staggering N54.4 trillion, reflecting the administration’s continued focus on its Renewed Hope agenda.
The presentation is expected to take place at 2:00 PM following a formal notification sent to lawmakers by the Clerk to the National Assembly. Security protocols have been intensified around the complex to ensure a seamless ceremony for the President and his cabinet members. However, the timing of this presentation has sparked a significant debate among economic observers and transparency advocates across the country.
While the executive arm prepares for this milestone, civil society organizations have raised concerns about the lack of historical data to support the new estimates. They argue that a budget of this magnitude requires a clear foundation based on previous performance. Without such data, stakeholders fear that the 2026 projections may lack the necessary realism to address Nigeria’s pressing economic challenges.
BudgIT raises alarm over lack of accountability
The prominent civic-tech organization BudgIT has officially decried the absence of a comprehensive 2025 Budget Implementation Report (BIR). In a strongly worded statement, the group noted that it is “unimaginable” for the government to propose a new budget without accounting for the current year’s performance. They emphasized that the 2026 budget is arriving while the public remains in the dark about how the N54.9 trillion “Budget of Restoration” was utilized in 2025.
According to Vanguard Nigeria, BudgIT highlighted that the failure to release these reports undermines the principles of transparency and fiscal responsibility. The organization pointed out that several capital components of the 2025 budget have seen little to no visible impact on the lives of ordinary citizens. This gap in reporting makes it difficult for lawmakers and the public to scrutinize the efficiency of government spending.
The advocacy group also questioned the overlapping nature of fiscal years, which has become a recurring issue in Nigeria’s public finance management. They argued that running multiple budgets concurrently creates confusion and dilutes the effectiveness of legislative oversight. For BudgIT, the priority should be closing the 2025 accounts before embarking on a new multi-trillion naira spending spree.
Massive revenue shortfall hampers 2025 performance
Adding to the controversy is a recent revelation by the Minister of Finance, Wale Edun, regarding a significant revenue crisis during the 2025 fiscal year. Edun informed lawmakers that while the government projected a revenue of N40.8 trillion, it only managed to realize approximately N10.7 trillion. This staggering N30 trillion deficit has severely hampered the government’s ability to fund critical infrastructure and social programs.
The finance minister attributed this shortfall to weak earnings from the oil and gas sector, particularly from Petroleum Profit Tax (PPT) and Company Income Tax (CIT). This data appears to contradict earlier statements made by President Tinubu in September 2025, where he claimed the government had met its revenue targets by August. The discrepancy between the President’s optimism and the Minister’s figures has created a “budget credibility crisis” according to industry experts.
To manage this gap, the federal government has reportedly deferred 70 percent of capital projects initially planned for 2025 to the 2026 fiscal year. This means that the upcoming budget will be heavily burdened by unfinished business from the previous year. Critics argue that this rollover strategy is a temporary fix that does not address the underlying issues of revenue generation and expenditure control.
Legislative oversight and the Fiscal Responsibility Act
The National Assembly now faces the daunting task of reviewing the 2026 Appropriation Bill under intense public scrutiny. Lawmakers are expected to demand a clearer explanation for the revenue discrepancies and the status of the deferred projects. The Fiscal Responsibility Act (FRA) of 2007 mandates that the executive provides regular updates on budget implementation to ensure macro-economic stability.
Members of the House Committee on Finance have already called for a more realistic approach to budget preparation to avoid the pitfalls of previous years. They noted that bloated budgets which rely on unrealistic revenue projections often lead to increased borrowing and higher debt servicing costs. The Medium-Term Expenditure Framework (MTEF), which should guide these projections, is also under review to ensure it aligns with current economic realities.
As the President prepares to lay the document, the focus will be on whether the 2026 budget can truly “restore hope” amid high inflation and a volatile exchange rate. The Central Bank of Nigeria (CBN) and other agencies will be closely monitoring the fiscal targets to see how they impact monetary policy. For many Nigerians, the success of this budget will be measured by its ability to lower the cost of living and improve national security
