The Nigerian Senate has approved the Medium-Term Expenditure Framework (MTEF) covering the 2026 to 2028 fiscal years. The MTEF serves as a key planning document that guides government spending, revenue targets, and borrowing plans over a three-year period. Lawmakers passed the framework after reviewing reports from relevant committees.

During the debate, senators highlighted the importance of the MTEF in promoting fiscal discipline and economic stability. They stressed that the framework will help align national budgets with long-term development goals while addressing challenges such as inflation, debt management, and revenue generation.

The approved MTEF is expected to guide the preparation of the 2026 national budget. It outlines key economic assumptions, including projected oil prices, daily crude oil production, exchange rate benchmarks, and deficit financing plans. Senators urged the executive arm to fully implement the proposals captured in the document.

With the passage of the MTEF, the Senate reaffirmed its commitment to transparency and responsible governance. Lawmakers expressed hope that the framework would support economic growth, improve infrastructure development, and enhance the welfare of Nigerians in the coming years.