The Senate has passed a ₦68.323 trillion budget for Nigeria's 2026 fiscal year. The approval marked an increase from the initial ₦58.47 trillion proposed. President Bola Tinubu had requested an upward revision of over ₦9.09 trillion to the budget. The fresh request is to accommodate legacy commitments, particularly in the transportation and health sectors, as …
The Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) have warned that persistent underfunding is weakening anti-corruption efforts in Nigeria. The heads of both agencies raised concerns on Tuesday during their 2026 budget defence before the Senate Committee on Anti-Corruption and Financial Crimes. Musa Adamu Aliyu, …
The Federal Government has disbursed ₦152 billion to contractors with verified contracts, the Ministry of Finance announced on Thursday. The ministry said the payment followed established verification procedures designed to safeguard public funds and maintain accountability in government spending. “The process of payment for contracts goes through various verification processes in line with extant laws …
Political tensions deepened in Rivers State on Thursday as the 10th Rivers State House of Assembly resolved to prevent Governor Siminalayi Fubara from presenting the state’s Mid-Term Expenditure Framework (MTEF) and 2026 budget. The decision follows the commencement of an impeachment probe against the governor and his deputy, Professor Ngozi Odu, over allegations of gross …
Analysts at CardinalStone project that Nigeria’s average crude oil output will rise to 1.75 million barrels per day (bpd) up from 1.67 million bpd in 2025. This was contained in their 2026 Macroeconomic Outlook titled “Indicators Align for Sustained Macro Gains,” released on Tuesday, January 6. It said the projection is supported by a sustained …
On Friday, December 19, 2025, Nigeria's President Bola Tinubu presented a proposed 2026 budget size of N58.18 trillion to a joint session of the National Assembly. Christened ‘Budget of Consolidation, Renewed Resilience and Shared Prosperity’, it aims to consolidate economic reforms and boost growth. It was read for the first time on the same day, …
President Bola Tinubu has presented the proposed 2026 Federal Budget, estimated at ₦58.18 trillion, on Friday, December 19, 2025. The president, who arrived at the National Assembly complex on Friday afternoon, presented the budget titled “Budget of Consolidation, Renewed Resilience and Shared Prosperity” at a joint session of the National Assembly. Breakdown of 2026 Budget …
BudgIT Nigeria has raised concern over the revenue figure declared by the budget office and the disclosure made recently by the Minister of Finance and Coordinating Minister of Economy, Wale Edun. The civic organisation raised the alarm in a post on its X handle on Friday, December 19. It stated: “While the Budget Office @PlanningNG …
The Federal Executive Council (FEC) has approved the 2026 budget, clearing the way for its presentation to a joint session of the National Assembly. The announcement was made in a brief statement on Friday, December 19, by the President’s Special Assistant on Social Media, Dada Olusegun. “The Federal Executive Council has approved the 2026 Budget …
The Nigerian House of Representatives has suspended discussion on the 2026–2028 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). The decision to step down the documents was taken on Wednesday following a heated debate over how crude oil price benchmarks and revenue projections were calculated. The debate ensued in plenary immediately after James Faleke, …
