FG sets independent revenue target of ₦2.5tn for 2026, tightens fiscal oversight

The Federal Government projects that independent revenues generated by Ministries, Departments and Agencies (MDAs) and Government-Owned Enterprises will increase to ₦2.5 trillion by 2026 as part of efforts to strengthen fiscal sustainability and increase public revenue collection.

The target was unveiled on Tuesday in Abuja by the Acting Executive Chairman and Chief Executive Officer of the Fiscal Responsibility Commission (FRC), Charles Abana, in a meeting between the management of the commission and the Secretary to the Government of the Federation (SGF), Senator George Akume.

According to a statement issued by the spokesperson of the Office of the Secretary to the Government of the Federation, Chris Ugwuegbulam, the new revenue target follows commission monitoring of around ₦1.84 trillion generated by federal MDAs by September 2025.

Highlighting the commission’s performance, Abana said ongoing reforms have significantly improved oversight of government revenues and operational surpluses.

“Through enhanced monitoring of operational surpluses of Government-Owned Enterprises and independent revenues generated by Ministries, Departments and Agencies, the Commission recorded approximately ₦1.84 trillion of monitored independent revenues in September 2025 and has set an ambitious target of ₦2.5 trillion of independent revenues for 2026,” he said.

He explained that the commission strengthened measures aimed at increasing transparency in revenue reporting, ensuring prompt delivery of operational surpluses into the Consolidated Revenue Fund and plugging revenue leakages across public institutions.

Abana also revealed that the Fiscal Responsibility Commission has modernized its revenue assessment framework by reviewing and updating the Operational Surplus Calculation Template that was initially introduced in 2016.

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According to him, the revised template now reflects the current fiscal realities and incorporates the provisions of the 2020 Finance Act.

“The template is now fully automated to increase efficiency, accuracy and transparency in revenue calculation and compliance monitoring,” added Abana.

Speaking at the meeting, Secretary to the Government of the Federation, Senator George Akume, stressed the need for stronger coordination among key fiscal institutions to promote accountability and improve public financial management.

He urged the Fiscal Responsibility Commission to deepen its cooperation with the Federal Ministry of Finance, the Federation Budget Office, the Office of the Accountant General of the Federation, the Debt Management Office and other relevant regulatory bodies.

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

Akume described the Fiscal Responsibility Commission as a key institution in Nigeria’s public financial architecture, and noted that wise management of government resources remains critical to economic stability.

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

He further emphasized that good fiscal management is essential to maintain macroeconomic stability, attract investors, ensure debt sustainability and encourage efficient use of public resources at all levels of government.

The Federal Government continues to intensify efforts to expand non-oil revenue sources and strengthen fiscal discipline in order to meet increasing expenditure obligations while improving the country’s overall financial position.

The Fiscal Responsibility Commission is responsible for monitoring the independent revenues and operational surpluses of Ministries, Departments and Institutions as well as Government-Owned Enterprises to ensure compliance with the Fiscal Responsibility Law and the delivery of necessary funds into the Consolidated Revenue Fund.