The Federal Executive Council has approved a fiscal framework proposing a ₦54.5 trillion (about $37.7 billion) national budget for 2026, setting the tone for next year’s economic direction.
The framework outlines revenue projections, expenditure plans and deficit targets, and will be forwarded to the National Assembly for consideration.
According to government officials, the budget aims to stimulate economic growth through infrastructure investment, social welfare programmes, and support for agriculture and industrial development.
The government also projects improved revenue from non-oil sectors, as Nigeria continues efforts to diversify away from volatile oil income.
But economists warn that Nigeria’s rising public debt and high cost of servicing loans remain major concerns.
They also say success will depend on plugging revenue leakages, improving tax collection, and eliminating waste across MDAs.
The approval of the budget framework marks the first step in Nigeria’s 2026 fiscal planning process.
