The House of Representatives has approved the 2026–2028 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), outlining the Federal Government’s revenue and expenditure plans for the next three years.
The approval was granted during plenary yesterday, with the lawmakers endorsing a proposed spending of N54.46 trillion for the 2026 fiscal year. Out of this amount, N31.83 trillion represents the Federal Government’s retained revenue, according to the framework adopted by the House.
In reaching its decision, the Green Chamber considered the report of its Committees on Finance and National Planning and Economic Development on the 2026–2028 MTEF/FSP. The report was laid before the Committee of Supply by the Chairman of the House Committee on Finance, James Abiodun Faleke.
The MTEF and FSP provide a medium-term macroeconomic framework that guides annual budgets, fiscal sustainability, and government spending priorities. Lawmakers noted that the approval of the documents is crucial for ensuring policy consistency and effective economic planning, especially in the face of prevailing fiscal and economic challenges.
With the House’s endorsement, the framework sets the tone for the preparation of the 2026 budget and subsequent fiscal policies for the 2027 and 2028 financial years.
