Nigeria's FEC Approves N58.47 Trillion Budget Proposal for 2026 Fiscal Year

The Federal Executive Council (FEC) in Nigeria has approved a budget proposal of N58.47 trillion for the 2026 fiscal year. The proposal, confirmed during a special FEC meeting in Abuja, was presented by the Director-General of the Budget Office, Tanimu Yakubu.

The budget includes an aggregate expenditure of N58.47 trillion, with a focus on reducing oil dependency and increasing non-oil revenue. The total revenue is projected at N34.33 trillion, with an emphasis on conservative and realistic assumptions, especially regarding oil prices and exchange rates.