NIGERIA, Dec. 4 -- The approval came after Wednesday's meeting chaired by President Bola Tinubu at the State House in Abuja.



Speaking after the meeting, the Minister of Budget and Economic Planning, Senator Atiku Bagudu, disclosed that the Federal Government forecasts total revenue of N34.33 trillion for 2026. Government-owned companies valued at N4.98 trillion are included in this figure.

He pointed out a big reduction in projected federal allocations, which may drop by around N9.4 trillion-sixteen percent from the 2025 budget-and said the projection is lower by N6.55 trillion than previous forecasts. Within the fiscal year, statutory transfers should total around N3 trillion.

Though a more cautious 1.8 million barrels per day will...