FG Raises 2026 Independent Revenue Target to N2.5 Trillion

The Nigerian Federal Government has set an ambitious target of N2.5 trillion in independent revenue for the year 2026. This goal was announced by the acting Executive Chairman of the Fiscal Responsibility Commission (FRC), Charles Abana, during a meeting with the Secretary to the Government of the Federation (SGF), Senator George Akume.

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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.

Abana revealed that the commission has been actively monitoring independent revenue streams, noting that approximately N1.84 trillion was generated by Ministries, Departments, and Agencies (MDAs) as of September 2025. He stated that the FRC is intensifying efforts to improve transparency in revenue reporting, ensure the prompt remittance of operating surpluses into the Consolidated Revenue Fund, and plug any potential revenue leakages across public institutions.

To support these efforts, the FRC has updated its Operating Surplus Calculation Template, originally developed in 2016. The revised template is now fully automated to enhance efficiency, accuracy, and transparency in revenue computation and compliance monitoring, aligning with current fiscal realities and the Finance Act 2020.

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

Senator Akume emphasized the critical role of the FRC in Nigeria's fiscal governance framework, stressing the importance of prudent management of public resources for economic stability. He urged for stronger collaboration among fiscal and oversight institutions, 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, to eliminate duplication and strengthen fiscal governance.

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