The Federal Government has announced plans to generate N2.5 trillion in independent revenue in 2026 as part of efforts to strengthen public finances, improve transparency and reduce revenue leakages across government institutions.
The target was disclosed by the Acting Executive Chairman and Chief Executive Officer of the Fiscal Responsibility Commission (FRC), Charles Abana, 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 Abana, the commission has already made significant progress in monitoring government revenue. He revealed that about N1.84 trillion in independent revenue generated by Ministries, Departments and Agencies (MDAs) had been monitored as of September 2025, giving the commission confidence to set a higher target for the coming year.
He explained that the new goal reflects the government’s determination to improve revenue collection without relying heavily on oil earnings.
Abana said the Fiscal Responsibility Commission is stepping up efforts to ensure that government-owned enterprises and MDAs promptly remit their operating surpluses into the Consolidated Revenue Fund as required by law.
He noted that the commission is also working to block revenue leakages, improve compliance with financial regulations and promote greater transparency in the management of public funds.
As part of these reforms, the commission has upgraded its Operating Surplus Calculation Template, which was first introduced in 2016. The revised version has been updated to reflect current economic realities and the provisions of the Finance Act 2020.
According to Abana, the template has now been fully automated to improve the accuracy, efficiency and transparency of revenue calculations while making it easier to monitor compliance by government agencies.
Speaking during the meeting, Senator George Akume emphasized the importance of stronger cooperation among government institutions responsible for managing the nation’s finances.
He urged the Fiscal Responsibility Commission to work more closely 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.
According to the SGF, closer collaboration among these institutions will help eliminate duplication of responsibilities, improve coordination and strengthen fiscal governance across the country.
Akume described the Fiscal Responsibility Commission as one of the key institutions responsible for promoting financial discipline and accountability in Nigeria.
He said proper management of public resources is essential for maintaining economic stability, improving investor confidence and ensuring that government spending delivers meaningful results.
The SGF also noted that fiscal responsibility remains a major pillar of President Bola Tinubu’s Renewed Hope Agenda, adding that transparent and disciplined management of government finances is necessary to support sustainable economic growth.
He explained that prudent financial management helps improve debt sustainability, encourages responsible spending and ensures that public resources are used efficiently at all levels of government.
The Federal Government has continued to focus on increasing non-oil revenue as part of its strategy to reduce dependence on crude oil earnings while meeting growing expenditure needs.
The Fiscal Responsibility Commission plays a vital role in this effort by monitoring the independent revenue and operating surpluses generated by Ministries, Departments, Agencies and Government-Owned Enterprises. The commission also ensures that these funds are remitted into the Consolidated Revenue Fund in line with the provisions of the Fiscal Responsibility Act.
With the new N2.5 trillion target for 2026, the government hopes to improve revenue generation, strengthen fiscal discipline and build a more transparent and sustainable public finance system capable of supporting Nigeria’s long-term economic development.
