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Nigeria's Senate approved a $132 billion 2026 budget with lower oil forecasts, growth targets, and major borrowing.
The Nigerian Senate has approved a N54.46 trillion 2026 budget framework, lowering the crude oil benchmark to $60 per barrel amid global volatility, while projecting oil output to rise to 1.92 million barrels per day by 2028.
Exchange rates are forecast to improve from N1,512 to N1,383 by 2028, inflation to drop from 16.5% to 9%, and GDP growth to rise from 4.68% to 7.9%.
The budget includes N17.88 trillion in borrowing, with capital spending at N20.13 trillion and a fiscal deficit of N20.13 trillion.
Lawmakers urged strict enforcement of tax laws and a National Scanning Policy to boost revenue transparency.
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El Senado de Nigeria aprobó un presupuesto de 132.000 millones de dólares para 2026 con menores previsiones de petróleo, objetivos de crecimiento y grandes préstamos.