Nigerian House of Representatives Approves 2026-2028 MTEF with Higher Oil Benchmark Than Senate

The Nigerian House of Representatives has approved the 2026-2028 MTEF, differing with the Senate on the oil benchmark. The House adopted a higher crude oil benchmark price of $64.85 per barrel for 2026, $64.30 for 2027, and $65.50 for 2028, citing Nigeria's improved crude oil output performance.

Lawmakers also approved exchange rate projections and inflation targets for the period. Hon.

James Abiodun Faleke presented the report, highlighting Nigeria's strong oil production within OPEC. The approval signifies economic planning and projections for the country's future financial stability.