President Bola Tinubu has transmitted the 2026 statutory budget of the Federal Capital Territory Administration to the Senate of Nigeria for consideration and approval.
The President also requested the Senate to screen and confirm Taiwo Oyedele as Minister of State for Finance, replacing Doris Uzoka Anite. In addition, Tinubu asked lawmakers to confirm former senator Magnus Abe as chairman of the Nigerian Upstream Petroleum Regulatory Commission.
The letters containing the budget proposal and nominations were read during plenary by the President of the Senate, Godswill Akpabio, as lawmakers resumed legislative activities after a three week recess.
Under Nigeria’s constitutional structure, the National Assembly exercises legislative authority over the Federal Capital Territory. This makes it the responsibility of the federal legislature to review and approve the territory’s annual budget.
In his letter, Tinubu cited Section 299 of the Nigerian Constitution as the legal basis for presenting the appropriation proposal to lawmakers. According to the President, the budget prioritises investments in healthcare services, job creation, youth empowerment, social welfare programmes and education infrastructure.
The spending plan is also expected to boost productivity in agriculture and support broader socio economic development within the capital territory. Tinubu noted that the proposal aims to improve the welfare of residents and help reduce poverty.
The submission begins the legislative process for the FCT appropriation bill. Relevant committees in the National Assembly will review the proposal before it is debated and approved by both chambers.
Tinubu also highlighted Oyedele’s experience in fiscal policy and tax reforms. Before his nomination, Oyedele served as chairman of the Presidential Committee on Fiscal Policy and Tax Reforms and previously worked for more than two decades at PwC.
The Senate also received nominations for non executive commissioners of the petroleum regulatory body as part of ongoing reforms in the energy sector.
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