The Federal Executive Council has approved the 2026 budget framework, marking a key step in Nigerias fiscal planning process ahead of the new financial year. The approval was granted during a council meeting presided over by President Bola Ahmed Tinubu at the Presidential Villa in Abuja.
According to officials familiar with the decision, the approved framework outlines the governments revenue projections, expenditure priorities, and key macroeconomic assumptions for the 2026 fiscal year. The budget is expected to focus on economic stabilisation, infrastructure development, social welfare, and national security, amid ongoing economic reforms.
Briefing journalists after the meeting, the Minister of Finance and Coordinating Minister of the Economy said the 2026 budget framework was designed to consolidate recent policy measures aimed at boosting revenue generation and reducing fiscal deficits. She noted that emphasis has been placed on improving non oil revenue, expanding the tax base, and ensuring efficient public spending.
The minister explained that the framework aligns with the administrations medium term development plan and reflects current economic realities, including inflationary pressures, foreign exchange reforms, and debt servicing obligations. She added that government remains committed to cushioning the impact of economic adjustments on vulnerable Nigerians.
Under the approved framework, priority sectors such as education, healthcare, agriculture, power, and transportation are expected to receive increased attention. Security funding is also projected to remain a major component of the budget, as the government continues efforts to address insurgency, banditry, and other security challenges across the country.
The approval of the framework clears the way for detailed budget preparation by relevant ministries, departments, and agencies. These proposals will be harmonised before the final 2026 Appropriation Bill is presented to the National Assembly for consideration and passage.
Economic analysts say early approval of the budget framework signals the governments intention to maintain fiscal discipline and improve budget implementation timelines. In recent years, delays in budget passage and execution have affected project delivery and economic performance.
The Federal Executive Council reaffirmed its commitment to transparency and accountability in the budgeting process, assuring Nigerians that public funds would be deployed to achieve measurable development outcomes. Officials also stressed the importance of legislative cooperation to ensure timely passage of the budget once submitted.
With the approval of the 2026 budget framework, attention now shifts to the National Assembly, where lawmakers are expected to scrutinise the proposals in line with national priorities and public interest.
