The Senate on Tuesday reduced the crude oil benchmark for the 2026 budget to $60 per barrel, adjusting some provisions in the process. The original proposal in the 2026–2028 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) was $64.85 per barrel. The country proposes a budget of N54.46 trillion for 2026, as contained in the MTEF forwarded to the National Assembly by President Bola Tinubu. The government’s retained revenue is estimated at N34.33 trillion, with a new borrowing component of N17.88 trillion. Debt service obligations are expected to consume N15.52 trillion.......................... . . . . . . . READ MORE