Nigeria Adopts Fiscal Realism in 2026-2028 Expenditure Framework Amid Economic Challenges

The Nigerian government's Medium-Term Expenditure Framework (MTEF) for 2026-2028, approved by the Federal Executive Council (FEC), outlines a move towards fiscal realism with a projected revenue of N34.33 trillion for the 2026 fiscal year. The framework includes targets for oil production, budget plans based on oil benchmark prices, and exchange rate assumptions.

Dr. Muda Yusuf of the Centre for Public Policy and Economic (CPPE) commended the shift towards a more conservative and credible fiscal plan to address global uncertainties and domestic fiscal pressures, aiming to restore budget credibility. The framework aims to reduce variance between projected and realized outcomes.