US EditionNigeria: FEC Approves 2026-2028 MTEF, Targets N34.3trn Revenue in 2026
The framework sets a conservative oil production benchmark of 1.8 million barrels per day for budgeting and projects a N34.33 trillion revenue for 2026, enhancing fiscal discipline.
- On Wednesday, the Federal Executive Council approved the 2026–2028 MTEF, projecting N34.33 trillion in revenue for 2026, with the presentation delivered by Tanimu Yakubu.
- Budget officials cited pre-election exchange-rate risks, using exchange-rate assumption N1,512/$1 and a gross rate of $4.68, while President Bola Ahmed Tinubu sought NEC approval to curb revenue leakages.
- Expenditure data show statutory transfers at N3 trillion, debt service expenditure at N15.91 trillion, non-recurrent expenditure at N15.27 trillion, and Federation Account distribution: Federal N22.6 trillion, State N16.3 trillion, Local N11.85 trillion.
- The Council approved the Medium-Term Fiscal Expenditure Ceiling to enforce spending limits, and the Executive will liaise with the National Assembly to set the 2026 budget timetable.
- FEC set dual oil figures and a price benchmark, approving an oil production target of 2.06 million barrels per day, a budgeting benchmark of 1.8 million barrels per day, and $64 per barrel.
10 Articles
10 Articles
2026: FG Targets N34.33trn Revenue, Pegs Exchange Rate At N1,512/$1
The Federal Executive Council (FEC) has approved the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper, projecting that the federal government expects to generate N34.33 trillion in revenue in the 2026 fiscal year. Addressing State House correspondents after the FEC meeting presided over by President Bola Ahmed Tinubu, the Minister of Budget and Economic Planning, Atiku Bagudu, said the document was presented to the FE…
FEC approves 2026–2028 MTEF, projects ₦34.33trn revenue
THE Federal Executive Council, FEC, on Wednesday approved the 2026–2028 Medium-Term Expenditure Framework MTEF, outlining revenue projections, fiscal assumptions and spending priorities that will guide the government’s economic direction over the next three years.
FEC approves 2026-2028 MTEF, projects ₦34trn revenue
The Federal Executive Council (FEC) has approved the 2026-2028 medium-term expenditure framework (MTEF), outlining Nigeria’s economic outlook, revenue targets, and spending priorities for the next three years. Briefing journalists after the FEC meeting on Wednesday in Abuja, the Minister of Budget and National Planning, Atiku Bagudu, said oil price was pegged at $64 per barrel, while the exchange rate assumption for the budget year is ₦1,512/$. …
FEC Approves $100m Youth Fund, Adopts 2026–2028 MTEF, Sets New Growth Priorities
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun The Federal Executive Council (FEC) on Wednesday rose from its 10th meeting in year 2025 with the approval of a $100 million African Development Bank (AfDB) loan for the Youth Investment Fund, a programme designed to support young Nigerian entrepreneurs from age 18 to 35 across micro, small and medium enterprises (MSMEs). Minister of Finance and Coordinating Minister o…
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