Nigeria, Dec. 14 -- The Centre for the Promotion of Private Enterprise (CPPE) has cautioned the federal government against overconfidence in oil and revenue assumptions underpinning the 2026-2028 Medium-Term Expenditure Framework (MTEF), warning that lingering optimism could still undermine budget credibility despite recent improvements.

In a policy brief signed by its director and chief executive officer, Muda Yusuf, the think tank said the new MTEF reflected a more cautious and realistic fiscal stance compared with previous frameworks, but stressed that the shift did not go far enough, particularly on crude oil price and production benchmarks.

"The recently presented highlights of the 2026-2028 Medium-Term Expenditure Framework (MTEF)...