Tinubu Transmits 2026-2028 MTEF/FSP To Reps For Approval

President Bola Tinubu has transmitted the 2026-2028 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the House of Representatives for approval.

Tinubu, in a letter read by Deputy Speaker Benjamin Kalu who presided over plenary on Wednesday, requested for expeditious consideration of the MTEF/FSP.

“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 was 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.

The Federal Executive Council (FEC) last week had approved the 2026-2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper, pegging oil price benchmark at $64.85 per barrel and a budget exchange rate of N1,512/$1 for 2026 fiscal year.

The MTEF/FSP is line with Part II, Section 11(1) of the Fiscal Responsibility Act 2007 which provides that: “the Federal Government after consultation with the states shall not later than six months from the commencement of this Act, cause to be prepared and laid before the National Assembly, for their consideration a Medium-Term Expenditure Framework for the next three financial years.

“Thereafter, not later than four months before commencement of the next financial year, cause to be prepared a Medium – Term Expenditure Framework for the next three financial years.”