The Federal Government should consider presenting a much larger budget in 2026 to drive infrastructure development and lift millions of Nigerians out of multidimensional poverty, according to Dr. Tope Fasua, Special Adviser to President Bola Ahmed Tinubu on Economic Affairs.
Fasua made this call on Wednesday during a virtual presentation at the Lagos Chamber of Commerce and Industry (LCCI) 2025 Mid-Year Review and Outlook Conference, where he discussed the “Half-Year Economic Review and Performance of 2025 Budget: Implications and Opportunities for Business.”
He noted that Nigeria is undergoing a major economic transformation, with a move toward zero crude oil exports and zero refined petrol imports. Fasua revealed that crude oil exports dropped by 50% in 2024, while savings from reduced petroleum imports reached $15 billion, declining slightly to $10 billion in 2024.
“I am actually an advocate of a larger national budget, even with concerns about funding,” he said. “The whole idea of a budget is about what you want to do for your people — and bold investment is necessary to break the cycle of poverty.”
Fasua stressed the need for long-term fiscal planning, suggesting that a larger, purpose-driven budget in 2026 would be essential to support infrastructure expansion, improve public services, and stimulate sustainable economic growth.
As Nigeria adjusts to a changing energy and trade landscape, Fasua’s comments point to a broader shift in policy thinking — toward strategic investments over austerity, with a focus on inclusive development.
