The Federal Government has set an ambitious target of generating N2.5 trillion in independent revenue in 2026 as part of efforts to strengthen fiscal discipline, improve transparency, and boost non-oil revenue.
The acting Executive Chairman and Chief Executive Officer of the Fiscal Responsibility Commission (FRC), Charles Abana, disclosed the target on Tuesday during a meeting between the commission’s management and the Secretary to the Government of the Federation (SGF), Senator George Akume, in Abuja.
According to a statement issued by the Office of the Secretary to the Government of the Federation through its spokesman, Chris Ugwuegbulam, the target follows the commission’s successful monitoring of approximately N1.84 trillion in independent revenue generated by Ministries, Departments and Agencies (MDAs) as of September 2025.
Abana said the commission was intensifying efforts to improve transparency in revenue reporting, ensure the prompt remittance of operating surpluses by Government-Owned Enterprises into the Consolidated Revenue Fund, and eliminate revenue leakages across public institutions.
He noted that the commission had also reviewed and upgraded its Operating Surplus Calculation Template, originally developed in 2016, to reflect current fiscal realities and align with the provisions of the Finance Act 2020.
According to him, the template has now been fully automated to enhance efficiency, accuracy, transparency in revenue computation, and compliance monitoring.
Speaking at the meeting, the SGF, Senator George Akume, called for stronger collaboration among fiscal and oversight institutions to deepen transparency, accountability, and prudent management of public finances.
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He 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 relevant oversight agencies to eliminate duplication and reinforce fiscal governance.
Akume described the Fiscal Responsibility Commission as a key institution in Nigeria’s fiscal governance framework, stressing that prudent management of public resources remains critical to sustaining economic stability.
He said the commission occupies a strategic position in strengthening public financial management and ensuring government resources are managed with discipline, transparency, and accountability in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu.
The SGF added that fiscal responsibility is essential for sustaining macroeconomic stability, boosting investor confidence, ensuring debt sustainability, and promoting the efficient utilisation of public resources across all levels of government.
The Federal Government has continued to intensify efforts to increase non-oil revenue and improve fiscal discipline as it seeks to strengthen public finances amid rising expenditure pressures.
The Fiscal Responsibility Commission is responsible for monitoring the independent revenue and operating surpluses of Ministries, Departments, Agencies, and Government-Owned Enterprises to ensure compliance with the Fiscal Responsibility Act and the remittance of funds into the Consolidated Revenue Fund.
