FG Projects N34.33trn Revenue for 2026, Sets Exchange Rate at N1,512/$1 in New MTEF
The Federal Executive Council has approved the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper, setting Nigeria’s projected revenue for 2026 at N34.33 trillion. According to Budget and Economic Planning Minister Atiku Bagudu, the framework adopts a benchmark oil production target of 2.06 million barrels per day, with a conservative 1.8 million barrels per day used for budgeting. The government also approved an oil price benchmark of $64.85 per barrel and an exchange rate of N1,512/$1, influenced partly by the upcoming 2027 general elections.
The MTEF outlines key expenditure figures, including N15.91 trillion for debt servicing, N15.27 trillion for non-recurrent spending, and a fiscal deficit of N20.1 trillion. Bagudu emphasised ongoing reforms to expand non-oil revenue, strengthen tax administration, and curb leakages in the oil and minerals sectors. The government is also working with the National Assembly to restore a January–December budget cycle, with parts of the 2025 capital expenditure expected to roll over into 2026.
#2026Budget
#MTEF
#FederalExecutiveCouncil
#AtikuBagudu
#WaleEdun
The Federal Executive Council has approved the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper, setting Nigeria’s projected revenue for 2026 at N34.33 trillion. According to Budget and Economic Planning Minister Atiku Bagudu, the framework adopts a benchmark oil production target of 2.06 million barrels per day, with a conservative 1.8 million barrels per day used for budgeting. The government also approved an oil price benchmark of $64.85 per barrel and an exchange rate of N1,512/$1, influenced partly by the upcoming 2027 general elections.
The MTEF outlines key expenditure figures, including N15.91 trillion for debt servicing, N15.27 trillion for non-recurrent spending, and a fiscal deficit of N20.1 trillion. Bagudu emphasised ongoing reforms to expand non-oil revenue, strengthen tax administration, and curb leakages in the oil and minerals sectors. The government is also working with the National Assembly to restore a January–December budget cycle, with parts of the 2025 capital expenditure expected to roll over into 2026.
#2026Budget
#MTEF
#FederalExecutiveCouncil
#AtikuBagudu
#WaleEdun
FG Projects N34.33trn Revenue for 2026, Sets Exchange Rate at N1,512/$1 in New MTEF
The Federal Executive Council has approved the 2026–2028 Medium-Term Expenditure Framework and Fiscal Strategy Paper, setting Nigeria’s projected revenue for 2026 at N34.33 trillion. According to Budget and Economic Planning Minister Atiku Bagudu, the framework adopts a benchmark oil production target of 2.06 million barrels per day, with a conservative 1.8 million barrels per day used for budgeting. The government also approved an oil price benchmark of $64.85 per barrel and an exchange rate of N1,512/$1, influenced partly by the upcoming 2027 general elections.
The MTEF outlines key expenditure figures, including N15.91 trillion for debt servicing, N15.27 trillion for non-recurrent spending, and a fiscal deficit of N20.1 trillion. Bagudu emphasised ongoing reforms to expand non-oil revenue, strengthen tax administration, and curb leakages in the oil and minerals sectors. The government is also working with the National Assembly to restore a January–December budget cycle, with parts of the 2025 capital expenditure expected to roll over into 2026.
#2026Budget
#MTEF
#FederalExecutiveCouncil
#AtikuBagudu
#WaleEdun
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