Photo Credit:The Nation
President Bola Tinubu has transmitted the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper to the Senate, seeking expeditious approval ahead of the 2026 budget presentation. The document, already cleared by the Federal Executive Council, proposes a crude benchmark of $64.85 per barrel and an exchange rate of ₦1,512 to the dollar for the 2026 cycle.
Deputy Senate President Jibrin Barau referred the framework to the Finance Committee with a deadline for its report. Under Nigeria’s Fiscal Responsibility Act, the MTEF/FSP provides the foundation for annual budgets, guiding revenue targets, borrowing limits and expenditure priorities across sectors.
Source: The Nation – 12 Dec 2025
2025-12-12 10:00:00 The Nation – 12 Dec 2025 2025-12-12