Niger Reopened Its Budget, and the Army Is One of Seven Reasons
NIGER · PUBLIC FINANCE
Key Facts
—The revision: A draft ordinance amending finance ordinance n° 2025-44 of 31 December 2025 was adopted by the Council of Ministers on Friday 21 August 2026.
—The size: The general state budget rises from 2,922.22 billion CFA francs to 2,980.54 billion, an increase of 58.32 billion or almost exactly 2%.
—In dollars: At 560.69 CFA francs to the dollar on 21 August, that is a move from about US$5.212 billion to about US$5.316 billion, an addition of roughly US$104 million.
—Where it goes: The communiqué cites additional budget credits for the Defence and Security Forces and a changed government configuration after a reshuffle.
—The oil line: The text also cites the consequences of the crisis in the Middle East, which it says has pushed international crude prices higher.
—Gold: Niger declared just over 1.7 tonnes of gold in 2025, worth more than 109 billion CFA francs, and mining revenues to the Treasury rose to more than 18 billion from 6.2 billion in 2024.
—Growth: The economy grew 6.9% in 2025 and the IMF projected 6.7% for 2026 in the eighth review of Niger’s Extended Credit Facility.
The Niger 2026 budget has been revised upward by 2% to 2,980.54 billion CFA francs. That is about US$5.3 billion, and the reason is the security situation. It is a small number that says a great deal about where the Sahel’s military governments are putting their money.
What was adopted, and by whom
The Council of Ministers met in Niamey on Friday 21 August. General Abdourahamane Tiani, President and Head of State, chaired the meeting. It adopted a draft ordinance amending finance ordinance n° 2025-44 of 31 December 2025.
The instrument matters. Niger has no sitting legislature, so this is an ordinance, not a law passed by parliament. The communiqué calls it the first rectification of the 2026 budget.
The headline movement is modest: revenue and expenditure both rise from 2,922.22 billion CFA francs to 2,980.54 billion. That is 58.32 billion added, or 1.996%, and the communiqué itself rounds it to 2%.
The Niger 2026 budget in dollars
The CFA franc is pegged to the euro at 655.957, so the dollar figure moves with the euro. At the European Central Bank reference rate of 1.1699 on 21 August, the cross equals 560.69 CFA francs per dollar. That is the European Central Bank’s daily euro reference rate for 21 August 2026.
On that basis the budget rises from about US$5.212 billion to about US$5.316 billion. The increase is roughly US$104 million.
For context, that is a national budget of about US$5.3 billion. It has to cover a country of some 27 million people fighting a jihadist insurgency across a vast territory.
Seven reasons, one theme
The communiqué lists several justifications, and they are worth separating carefully.
The new government configuration follows a reshuffle. Also, bodies tied to the presidency and PM’s office were abolished, with roles moved to ministries.
One is unmistakably military. The text says the changing security situation translates into additional budget-credit needs for the Defence and Security Forces. This line gives the revision its character.
Another is external. The government cites the Middle East crisis as raising international crude prices. The text does not specify if the effect runs through costs or revenues.
Gold as the fiscal hedge
The revision is also framed as simplifying the tax regime to accelerate economic recovery and develop the gold sector. That is a motivation rather than an operative clause, but the direction is clear.
The numbers behind it are still small. Niger declared just over 1.7 tonnes of gold in 2025, worth over 109 billion CFA francs. It also reported about 200 kilogrammes from artisanal mining and 65 kilogrammes seized.
The fiscal return has moved sharply, though. Mining revenues to the Treasury rose to more than 18 billion CFA francs in 2025 from 6.2 billion in 2024.
ECOWAS lifted its economic sanctions on Niger in February 2024, and Niger left the bloc altogether a year later. A government courting gold investors now is doing what several of its neighbours are doing. The Sahel’s juntas have all discovered the same asset class.
What this tells outside investors
The macro picture is not as grim as the politics suggests. Growth reached 6.9% in 2025, and the IMF projected 6.7% for 2026 in the eighth review of Niger’s Extended Credit Facility. The Fund flags insecurity, major climate events, external price shocks and financing vulnerabilities. It puts the 2025 growth rate down mainly to favourable rainfall in farming areas.
What the revision signals is priority rather than distress. The communiqué does not say how the extra 58.32 billion CFA francs is divided, and no ministry-level breakdown has been published.
The Alliance of Sahel States held its confederal parliament’s first session in Niamey this month. That matches the group’s broader path forward. Institution-building and defence spending are moving together.
For holders of regional debt, the useful takeaway is directional rather than dramatic. A junta running a US$5.3 billion budget is reallocating toward security while trying to build a mining tax base underneath it.
Frequently Asked Questions
How big is the Niger 2026 budget now?
It rises from 2,922.22 billion CFA francs to 2,980.54 billion, an increase of 58.32 billion or almost exactly 2%. That is roughly US$5.3 billion at the 21 August exchange rate.
Who approved the revision?
The Council of Ministers communiqué records that ministers met in Niamey on Friday 21 August 2026. General Abdourahamane Tiani, President of the Republic and Head of State, took the chair.
Where is the extra money going?
The official communiqué cites additional budget credits for the Defence and Security Forces, alongside a changed government configuration after a reshuffle.
Is this a law or an ordinance?
An ordinance. Niger has no sitting legislature, so the instrument amends the finance ordinance of 31 December 2025 rather than passing through parliament.
What is Niger’s growth outlook?
The economy grew 6.9% in 2025, and the IMF projected 6.7% for 2026 in the eighth review of Niger’s Extended Credit Facility. Insecurity, climate events and external price shocks sit among the downside risks.
Connected Coverage
Niamey hosted another Sahel first this month: read our report on the inaugural session of the Alliance of Sahel States confederal parliament. This story is part of our continuing coverage of Africa: The New Scramble.
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