FEC Approves N58.4 7trn For 2026 Budget Proposal
Nigeria’s 2026 budget proposal of N58.47 trillion signals a strategic shift, prioritizing fiscal consolidation over expansion, with spending growth driven by mandatory obligations like debt service and wages rather than new discretionary projects. The plan confirms a structural move away from oil dependence, as non-oil revenues now constitute two-thirds of total receipts, anchored by corporate tax and VAT. While the budget reflects conservative assumptions, the increased deficit is attributed to these fixed costs, with financing focused on domestic borrowing and concessional



