Nigeria’s House of Representatives has passed the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), after initially suspending consideration of the document on Wednesday for the Finance Committee to make necessary adjustments to key parameters.
The House approved the 64.85 dollar per barrel as crude oil benchmark which was proposed by the Executive; a major reason why the consideration was postponed at Wednesday’s plenary.
Other approvals include; the projected aggregate revenue of N34.33 trillion, fiscal deficit of N20.13 trillion, borrowings at N17.88 trillion, debt service of N15.52 trillion, pensions, gratuities, retirees’ benefits of Nl1.376 trillion, 1.84 mbpd as crude oil production, inflation rate of 16.5%, exchange rate of N1,512 per US Dollar, and GDP growth rate at 4.68%.
Lawmakers also unanimously approved all other projections, which includes:
● Fiscal deficit at N20.13 trillion.
● Capital Expenditure at N20.131 trillion, which is exclusive of transfers.
● Statutory transfers at N3.152 trillion.
● Sinking Fund at N388.54 billion.
● Total Recurrent (non-debt) expenditure at N15.265 trillion.
● Special Intervention for Recurrent and Capital Expenditures pegged at N200 billion, and N14 billion respectively.
With this development, all is set for President Bola Tinubu to present the 2026 Appropriation Bill, estimated at ₦54.4 trillion on Friday, December 18th 2025.
Editor: Ken Eseni
