In a letter to the senate read by Bukola Saraki, the president said he would also speak on his plans to get the economy out of recession.
Last week, the federal executive council (FEC) approved the 2017 budget, which is estimated to be N7.02trn. The 2016 budget is N6.08trn.
Next year’s budget is predicated on an oil benchmark of $42.5 per barrel.
The senate has already considered the medium term expenditure framework, which is a precusor to the budget.