Lagos: The Centre for the Promotion of Private Enterprise (CPPE) says the assumptions underpinning the 2026 budget are ‘more conservative, which is good’. The CPPE’s Director and Chief Executive Officer, Dr. Muda Yusuf, communicated this perspective during a telephone conversation with NAN, noting that the oil price and output assumptions were largely appropriate.
According to News Agency of Nigeria, President Bola Tinubu presented the N58.18 trillion 2026 Appropriation Bill to a joint session of the National Assembly. Titled ‘Budget of Consolidation, Renewed Resilience and Shared Prosperity’, the proposal outlines the Federal Government’s fiscal framework for the upcoming year.
Yusuf highlighted that the assumptions could benefit from further conservatism by adjusting the oil benchmarks to align more closely with current market and production realities. He recommended reducing the projected oil price from 64 dollars to 60 dollars and decreasing the output to about 1.6 or 1.5 million barrels per day.
He pointed out that a recurring issue with previous budgets has been unrealistic assumptions, emphasizing the importance of making projections as realistic as possible. Yusuf also advised the National Assembly against inflating the budget, cautioning that any increases without secured revenue could compromise the effectiveness of its implementation.