FG Sets N2.5tn Independent Revenue Target For 2026 Amid Fiscal Reforms

The Federal Government has projected N2.5tn in independent revenue for 2026 as part of its broader efforts to strengthen fiscal discipline, improve transparency and reduce leakages in public finance management.

The target was disclosed on Tuesday by the Acting Executive Chairman and Chief Executive Officer of the Fiscal Responsibility Commission, Charles Abana, during a meeting between the commission’s management and the Secretary to the Government of the Federation in Abuja.

According to a statement issued by the spokesman for the Office of the Secretary to the Government of the Federation, Chris Ugwuegbulam, the revenue target follows the commission’s successful monitoring of approximately N1.84tn in independent revenue generated by Ministries, Departments and Agencies as of September 2025.

Abana said the commission was building on that performance and expanding its oversight on operating surpluses from Government-Owned Enterprises to improve revenue generation in the coming fiscal year.

“Through enhanced monitoring of operating surplus from Government-Owned Enterprises and independent revenue generated by Ministries, Departments and Agencies, the Commission recorded approximately N1.84tn in monitored independent revenue as at September 2025 and has set an ambitious target of N2.5tn in independent revenue for 2026,” he said.

He explained that the commission had stepped up measures aimed at improving accountability in revenue reporting, ensuring that public institutions remit their operating surpluses into the Consolidated Revenue Fund on time and blocking revenue leakages across government establishments.

Abana also disclosed that the commission had reviewed and modernised its Operating Surplus Calculation Template, originally developed in 2016, to align with evolving fiscal realities and the provisions of the Finance Act 2020.

“The template has now been fully automated to improve efficiency, accuracy and transparency in revenue computation and compliance monitoring,” Abana added.

Speaking at the meeting, the Secretary to the Government of the Federation, George Akume, stressed the need for stronger institutional collaboration to improve fiscal governance and ensure prudent management of public resources.

Akume called on the Fiscal Responsibility Commission to work more closely with key financial oversight agencies, including the Federal Ministry of Finance, the Budget Office of the Federation, the Office of the Accountant-General of the Federation and the Debt Management Office.

“I want to urge deeper collaboration with the Federal Ministry of Finance, Budget Office of the Federation, Office of the Accountant General and the Federal Debt Management Office and other oversight institutions to eliminate duplication and strengthen fiscal governance,” he said.

The SGF described the Fiscal Responsibility Commission as a vital pillar in Nigeria’s fiscal management framework, noting that its role remains critical in promoting transparency and discipline in the management of public funds.

“The Fiscal Responsibility Commission occupies a strategic position in strengthening public financial management and ensuring that government resources are managed with discipline, transparency and accountability in line with the Renewed Hope Agenda of President Bola Tinubu,” Akume said.

He further emphasised that fiscal responsibility remains central to maintaining macroeconomic stability, enhancing investor confidence, ensuring debt sustainability and promoting efficient resource utilisation across all levels of government.

The government has increasingly focused on strengthening non-oil revenue generation as part of wider reforms aimed at reducing dependence on oil earnings and improving the country’s fiscal resilience amid rising expenditure obligations.

The Fiscal Responsibility Commission plays a central role in monitoring the independent revenue and operating surpluses of MDAs and Government-Owned Enterprises, ensuring compliance with the Fiscal Responsibility Act and enforcing remittances into the Consolidated Revenue Fund.