Nigerian President Bola Tinubu has approved a significant salary increase for the country's armed forces, raising the annual military wage bill from N660 billion to N924 billion.
The adjustment, which ranges between 30% and 80%, affects approximately 250,000 personnel across the armed services.
21 trillion in May 2026, highlighting ongoing liquidity expansion.
The move represents a substantial expansion in government expenditure on defense compensation.
The increase comes as Nigeria grapples with broader macroeconomic pressures.
Recent data indicates that the country's broad money supply rose to N129.21 trillion in May 2026, highlighting ongoing liquidity expansion.
The surge in military wages adds to the fiscal burden at a time when monetary conditions are already tight.