Nigeria’s fiscal deficit under the 2026 Appropriation Act has exceeded the limit prescribed by the Fiscal Responsibility Act, according to a new report by the civic technology organisation, BudgIT. In its latest report titled Federal Government Approved Budget Analysis 2026, the organisation said the approved budget pr…

…3.9 per cent during the corresponding period of 2025, foreign reserves exceeded $42bn, fiscal deficits narrowed, and investor confidence strengthened. However, it warned that high inflation continues to undermine household incomes. The report stated, “High inflation, though declining, continues to erode real incomes, p…

…in recent official budgets, obscuring the country's true financing needs and making the fiscal deficit appear smaller than it actually was. Speaking in Lagos, IMF Resident Representative in Nigeria, Christian Ebeke, said, "So far we think that there are about two per cent of GDP of expenditure that were not reported th…

…in recent official budgets, obscuring the country's true financing needs and making the fiscal deficit appear smaller than it actually was. Speaking in Lagos, IMF Resident Representative in Nigeria, Christian Ebeke, said, "So far we think that there are about two per cent of GDP of expenditure that were not reported th…