FG raises 2026 independent revenue target to N2.5tn

The Federal Government has set a target of generating N2.5tn in independent revenue in 2026.

The acting Executive Chairman and Chief Executive Officer of the Fiscal Responsibility Commission, Charles Abana, disclosed this on Tuesday during a meeting between the commission’s management and the Secretary to the Government of the Federation, Senator George Akume, in Abuja.

In a statement by the Office of the Secretary to the Government of the Federation spokesman, Chris Ugwuegbulam, Abana said the target followed the commission’s monitoring of approximately N1.84tn in independent revenue generated by Ministries, Departments and Agencies as of September 2025.

He said, “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 explained that the commission was intensifying efforts to improve transparency in revenue reporting, ensure the timely remittance of operating surpluses into the Consolidated Revenue Fund, and eliminate revenue leakages across public institutions.

According to him, the commission has also reviewed and upgraded its Operating Surplus Calculation Template, first developed in 2016, to align with current 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 during the meeting, the Secretary to the Government of the Federation, Senator George Akume, called for stronger collaboration among fiscal and oversight institutions to deepen transparency, accountability and prudent management of public finances.

Akume urged the Fiscal Responsibility Commission to strengthen cooperation 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 agencies.

“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,” he said.

The SGF described the Fiscal Responsibility Commission as a critical institution in Nigeria’s fiscal governance framework, noting that the prudent management of public resources remains essential for economic stability.

“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 Ahmed Tinubu,” Akume said.

He added that fiscal responsibility was fundamental to sustaining macroeconomic stability, boosting investor confidence, ensuring debt sustainability and promoting the efficient utilisation of public resources across all tiers of government.

The Federal Government is intensifying efforts to boost non-oil revenue and improve fiscal discipline as it seeks to strengthen public finances amid growing expenditure demands.

The Fiscal Responsibility Commission monitors the independent revenue and operating surpluses of Ministries, Departments, Agencies and Government-Owned Enterprises to ensure compliance with the Fiscal Responsibility Act and remittances into the Consolidated Revenue Fund.