{"id":20439,"date":"2025-12-04T06:51:45","date_gmt":"2025-12-04T04:51:45","guid":{"rendered":"http:\/\/jhb-webdevelopers\/channelafrica\/news\/nigeria-approves-fiscal-plan-proposing-37-7-billion-2026-budget\/"},"modified":"2026-02-27T16:31:44","modified_gmt":"2026-02-27T14:31:44","slug":"nigeria-approves-fiscal-plan-proposing-37-7-billion-2026-budget","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/nigeria-approves-fiscal-plan-proposing-37-7-billion-2026-budget\/","title":{"rendered":"Nigeria approves fiscal plan proposing $37.7 billion 2026 budget"},"content":{"rendered":"<p>Nigeria&#8217;s cabinet has signed off on a medium-term fiscal plan that projects spending of around 54.5 trillion Naira ($36.05 billion) in 2026, its Minister of Budget and Planning said on Wednesday.<\/p>\n<p>&nbsp;<\/p>\n<p>The plan forecasts total federal revenue at 34.33 trillion Naira ($22.71 billion), leaving a 20.1 trillion Naira ($13.29 billion) deficit, or 3.61% of gross domestic product (GDP), with debt service costs estimated at 15.9 trillion Naira ($10.52 billion), Atiku Bagudu told reporters after a cabinet meeting in Abuja.<\/p>\n<p>&nbsp;<\/p>\n<p>Non-recurrent debt expenditure is set at 15.27 trillion Naira ($10.10 billion), underscoring the fiscal strain on Africa&#8217;s most populous country.<\/p>\n<p>&nbsp;<\/p>\n<p>Oil, which accounts for most of the government&#8217;s foreign exchange, is benchmarked at $64.85 per barrel, with production expected to average 1.84 million barrels per day (bpd), well below a 2.06 million bpd target, Bagudu said.<\/p>\n<p>&nbsp;<\/p>\n<p>The framework assumes an exchange rate of 1 512 Naira per Dollar and GDP growth of 4.68%, he said.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8211;Reuters&#8211;<\/p>\n","protected":false},"featured_media":20440,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-20439","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Nigeria's cabinet has signed off on a medium-term fiscal plan that projects spending of around 54.5 trillion Naira ($36.05 billion) in 2026","published_date":"2025-12-04 08:50:29","news_description":"Nigeria's cabinet has signed off on a medium-term fiscal plan that projects spending of around 54.5 trillion Naira ($36.05 billion) in 2026","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/20439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/20439\/revisions"}],"predecessor-version":[{"id":24478,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/20439\/revisions\/24478"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/20440"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=20439"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=20439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}