The recently released 2026-2028 Medium Term Expenditure Framework (MTEF) is a change to a more realistic fiscal estimate, according to the Center for the Promotion of Private Enterprises (CPPE) in its policy brief. In advance of the 2026 budget presentation, which has been delayed by the executive, the Federal Executive Council (FEC) this week adopted the MTEF, which describes the government’s income estimates, spending plans, and fiscal targets.The MTEF must be prepared by the administration, submitted to the National Assembly for approval at least four months prior to the start of the fiscal year, and approved before the annual budget may be created, according the Fiscal Responsibility Act of 2007. The MTEF, which projects that the federal government will make N34.33 trillion in revenue in the 2026 fiscal year, was approved by the federal executive council last week.
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