2026 Budget Delays Spark Fiscal Spending Concern, Uncertainty
Delays in finalizing Nigeria’s 2026 federal budget and the Medium Term Expenditure and Fiscal Strategy Paper (MTEF/FSP) have heightened market anxiety and cast uncertainty over fiscal spending. With less than two months to the new fiscal year, the Federal Executive Council has yet to approve the budget for National Assembly submission, while the Senate demands comprehensive reports before considering any new proposal. The hold-up, driven by the need to adjust economic frameworks for falling oil prices and missed production targets, has created a ripple effect: MDAs (Ministries, Departments, and Agencies) face worsening funding crises, critical programs remain suspended, and market participants brace for unpredictable government spending. States such as Bayelsa, Cross River, Ekiti, and Osun are moving independently with their own appropriation bills, reflecting deepening uncertainty and divergence in national and subnational fiscal timelines. Analysts warn that ongoing budget delays […]