Abbas cautions against unrealistic projections in 2026 budget

Tajudeen Abbas, speaker of the house of representatives, has cautioned against unrealistic projections in the 2026 budget.

Speaking on Friday at a joint sitting of the national assembly after President Bola Tinubu presented the 2026 appropriation bill, Abbas said overly optimistic assumptions could undermine fiscal discipline and weaken public confidence in the budgeting.

The speaker said the experience of the outgoing 2025 fiscal year showed the importance of grounding budgets in credible, resilient and realistic assumptions.

“If 2025 was a year of adjustment and learning, 2026 must be a year of fulfilment,” he said.

“Growth must increasingly translate into jobs, higher incomes, and expanded opportunity.

“Fiscal discipline must continue to deliver fairness, efficiency and visible impact.

“Above all, the 2026 Budget must be grounded in credible targets, realistic assumptions, and disciplined implementation.”

“This is why there is strong optimism across this chamber that 2026 will be different, not only in intent but also in outcomes.

“The national assembly receives the 2026 Appropriation Bill with confidence that the lessons of 2025 have been fully internalised and that this budget is designed to translate reform into tangible progress for Nigerians.

“Growth must increasingly translate into jobs, higher incomes, and expanded opportunity. Fiscal discipline must continue to deliver fairness, efficiency, and visible impact.

“And national policy must remain firmly anchored in coherence, predictability, and institutional order.”

He said Tinubu’s reassurance that Nigeria must operate with one budget and one fiscal framework, along with his pledge to deepen fiscal realism and restore order to the budgeting process, signals reform in the 2026 budget.

Abbas assured Nigerians that the national assembly would consider the appropriation bill with urgency and diligence, scrutinise spending for accountability and ensure that every naira delivers value to citizens.

“To Nigerians watching, the message of this budget is clear. Stability has been restored, confidence has been rebuilt, and the foundations for shared prosperity are firmly in place,” he said.

The federal government has faced significant challenges in executing the 2024 and 2025 budgets, resulting in the simultaneous operation of multiple appropriations within a single fiscal year.

The president has requested that the national assembly repeal and re-enact both budgets and extend the implementation timeline of the 2025 budget through March 2026 to ensure fiscal alignment and continuity of public expenditure.