Senate has approved 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP).
Gatekeepers News reports that the upper legislative house set the federal government’s total expenditure for 2026 fiscal year at N54.46 trillion.
In addition, lawmakers endorsed an oil benchmark of US$64.85 per barrel, projected aggregate revenue of N34.33 trillion, and a fiscal deficit of N20.13 trillion.
The framework also outlines planned borrowings of N17.88 trillion, debt service obligations of N15.52 trillion, and pensions, gratuities, and retirees’ benefits totaling N1.376 trillion.
The passage of the MTEF/FSP provides the guiding fiscal and expenditure strategy for the next three years, aligning revenue projections, spending priorities, and borrowing plans with the government’s medium-term economic objectives.
This is a developing story…
