Echotitbits – Nigeria News

Tag: 2026 budget

  • Fiscal Responsibility: Experts Warn Against ‘Frivolous’ Insertions in 2026 Budget

    Fiscal Responsibility: Experts Warn Against ‘Frivolous’ Insertions in 2026 Budget

    Fiscal Responsibility: Experts Warn Against ‘Frivolous’ Insertions in 2026 Budget

    Nigeria’s proposed N58.18 trillion 2026 Appropriation Bill is facing scrutiny over reports of N3.5 trillion in new projects, amid warnings that fresh insertions could worsen debt dynamics and undermine priority sectors.

    Additional coverage across Nigerian media and stakeholder reactions indicate that the implications of the development will be closely watched in the coming days as policy, security, and market signals evolve.

    Echotitbits take: This tension between the Executive and the National Assembly over project padding is a recurring theme. The real test will be whether the Senate resists these insertions or if they are passed in exchange for political concessions.

    Source: Arise – https://www.arise.tv/adc-blasts-2026-budget-as-quicksand-debts-fantasy/ (2026-01-22)

    Photo credit: Arise

    2026-01-22 10:00:00

     

  • FG projects ₦33.39tn revenue and ₦15.91tn debt service for 2026 fiscal year

    FG projects ₦33.39tn revenue and ₦15.91tn debt service for 2026 fiscal year

    In a report by The Nation, the Federal Government’s 2026 Appropriation Bill projects about ₦33.39 trillion in revenue and sets aside roughly ₦15.91 trillion for debt servicing, highlighting the scale of fiscal pressure.

    The story breaks down projected revenue sources and explains that domestic debt service—often including Central Bank financing—remains a major budget burden.

    Economists warn that a heavy debt-service line can shrink space for infrastructure and social spending, unless revenue performance improves and borrowing costs fall.

    The debate in the National Assembly is expected to focus on realism of revenue assumptions and strategies to reduce recurrent costs and improve tax efficiency without harming growth.

    Echotitbits take: Nigeria’s fiscal stress is now structural: debt service competes with everything. Watch for credible revenue reforms and whether debt management reduces cost, not just raises more borrowing.

    Source: The Nation https://thenationonlineng.net/fg-targets-%E2%82%A633-39trn-revenue-sets-aside-%E2%82%A615-91trn-for-debt-service-in-2026/ 11 January 2026

    The Nation 2026-01-11

    Photo Credit: The Nation

  • State House Travel Vote Sparks Debate as 2026 Estimate Hits N12.2bn

    State House Travel Vote Sparks Debate as 2026 Estimate Hits N12.2bn

    In an update published by Vanguard, the 2026 State House estimates indicate President Tinubu, Vice President Shettima, and aides could spend N12.2bn on foreign and local travel in 2026.

    The report has revived questions about austerity optics amid inflation and cost-of-living pressures, as lawmakers review spending lines.

    Supporters argue official travel can yield diplomatic and investment gains, while critics demand clearer justification and outcome reporting.

    SaharaReporters also highlighted foreign travel plans, noting “plan to spend N7.4 billion on foreign trips,” while GazetteNGR summarized the same theme with “about N9 billion” in its highlight.

    Echotitbits take: Watch for outcome-based accountability—investment commitments and measurable diplomacy gains that justify the travel vote.

    Source: Vanguard – https://www.vanguardngr.com/2026/01/2026-budget-tinubu-shettima-aides-to-spend-n12-2bn-on-trips/ January 10, 2026

    Vanguard 2026-01-10

    Photo Credit: Vanguard

  • Enugu sets N870bn IGR target for 2026 as agencies are told to ramp up collections

    Enugu sets N870bn IGR target for 2026 as agencies are told to ramp up collections

    In a report by ThisDay, Enugu Governor Peter Mbah set an N870 billion internally generated revenue target for 2026, urging MDAs to intensify revenue mobilisation amid global uncertainty.

    The target is positioned as a core funding pillar for the state’s programme, implying stronger compliance drives, more automation, and broader clarity on what qualifies as collectible revenue.

    The funding mix also points to the continuing role of FAAC allocations and capital receipts, but with IGR expected to carry a heavier share of budget ambition.

    If pursued aggressively, the tension will be balancing expansion of the tax net with maintaining a business-friendly environment that doesn’t choke SMEs and investment.

    The Guardian noted the governor’s funding mix includes “N870 billion IGR” alongside other streams, while The Sun also reported the same direction around the N870bn target tied to the 2026 budget framework.

    Echotitbits take: Enugu’s ambition is plausible only with digitised collections, fewer leakages, and clearer taxpayer services. Watch reforms in land administration, transport levies, and business licensing—the fastest IGR accelerators and the most abused if not controlled.

    Source: The Punch – https://punchng.com/mbah-urges-agencies-to-boost-revenue-meet-budget-target/ January 7, 2026
    The Punch  January 7, 2026

    Photo Credit: The Punch

  • Economic Expert Projects 4% GDP Growth for 2026 Under Reform Gains

    Economic Expert Projects 4% GDP Growth for 2026 Under Reform Gains

    Figures cited by The Nation suggest Nigeria could record up to about 4%–4.5% GDP growth in 2026 if ongoing reforms are sustained, according to Dr. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprises (CPPE).

    Yusuf cautioned that structural bottlenecks still constrain productivity and warned that overly optimistic revenue assumptions in the 2026 budget could weaken implementation if oil price volatility persists.

    ThisDay and Daily Post also reported the forecast and highlighted Yusuf’s emphasis that growth must translate into jobs, especially as household spending pressures remain high even with signs of moderating inflation.

    Echotitbits take: 4% growth is respectable, but Nigeria’s real test is whether reforms deliver broad employment and higher productivity. Watch quarterly GDP data for stronger contributions from manufacturing and agriculture—not just services.

    Source: ThePunch – https://punchng.com/sustained-reforms-can-push-nigerias-gdp-to-4-in-2026-expert/ 2026-01-07

    Photo Credit: ThePunch

  • Rivers State Council Proposes N1.8 Trillion Budget Amidst Continued Political Tension

    Rivers State Council Proposes N1.8 Trillion Budget Amidst Continued Political Tension

    Reporting by Daily Post indicates that the Rivers State Executive Council has approved a N1.8 trillion budget proposal for the 2026 fiscal year. The budget is intended to facilitate the completion of major infrastructure projects and advance social development across the state’s 23 local government areas.

    The announcement comes at a time of heightened political friction between Governor Siminalayi Fubara and his predecessor, Nyesom Wike. Despite the administrative progress, the political environment remains volatile, with both sides trading accusations regarding the leadership of the state.

    Premium Times reported on the ‘sounds of war’ following recent threats, highlighting that the political divide is affecting governance. Meanwhile, The Cable quoted former Governor Orji Kalu, who stated that ‘Governors, not Tinubu, are responsible for tackling insecurity,’ placing the onus of regional stability back on state leadership.

    Echotitbits take: Rivers State’s massive budget reflects its status as an economic powerhouse, but political instability could deter the very investors the state needs. Watch for whether the House of Assembly, currently split by loyalty, provides a smooth passage for this appropriation bill.

    Source: The Punch — https://punchng.com/rivers-executive-council-approves-n1-8tn-2026-budget/
    The Punch January 3, 2026

    Photo Credit: The Punch

  • Senate advances ₦58.47tr 2026 budget, tees up debate for the new year

    Senate advances ₦58.47tr 2026 budget, tees up debate for the new year

    Photo Credit: The Nation
    2025-12-24 07:00:00

    According to The Nation, the Senate has advanced the proposed 2026 federal budget after it scaled second reading, keeping the appropriation process on track ahead of more detailed committee work.

    The move signals early legislative buy-in for the headline spending plan, even as lawmakers prepare to drill into the assumptions—revenue projections, borrowing needs, and the spending mix that will shape implementation.

    With the second reading done, the next stage shifts to deeper scrutiny, where sector-by-sector allocations and policy trade-offs become the real battleground.

    TheCable also reported the development, noting that the Senate “passed the N58.472 trillion 2026 appropriation bill for second reading.” ARISE News similarly described the session as lawmakers “passed the N58.47 trillion 2026 appropriation bill for second reading.”

    Echotitbits take: The key watchpoint is not the second reading itself, but the credibility of the financing plan. Nigerians should track what gets trimmed, what gets protected, and whether lawmakers demand stronger performance metrics for MDAs—especially on power, security, and inflation-sensitive social spending.

    Source: The Nation — December 23, 2025 (https://thenationonlineng.net/n58-47tr-2026-budget-scales-second-reading-in-senate/)
    The Nation 2025-12-23

  • Nigeria’s 2025 Revenue Gap Hits ₦30tn, Finance Ministry Signals Tougher Budget Choices

    Nigeria’s 2025 Revenue Gap Hits ₦30tn, Finance Ministry Signals Tougher Budget Choices

    Photo Credit: Punch

    2025-12-17

    According to *The Punch*, Nigeria’s Finance Minister Wale Edun says the Federal Government recorded about ₦30 trillion in revenue shortfall in 2025, underscoring how weaker-than-expected inflows are tightening fiscal space.

    The report points to the knock-on effect on budget execution: with revenue underperforming, the government may face sharper trade-offs between debt servicing, capital spending, and core social obligations.

    It also raises questions around the pace of non-oil revenue reforms and the reliability of projected collections as Nigeria navigates inflation, exchange-rate pressures, and a still-fragile recovery.

    Other reporting on the same development includes:
    – Reuters: “Nigeria’s fiscal pressures are intensifying as revenue performance lags spending needs.”
    – Bloomberg: “Officials are weighing additional measures to close the gap as financing costs remain elevated.”

    Analysis/Echotitbits take: A ₦30tn gap is a warning flare for 2026 planning—expect tougher scrutiny of waivers, leakages, and under-remittance. Watch the next FEC/Finance briefings for concrete revenue-side actions and whether spending is reprioritised toward high-multiplier projects.

    Source: The Punch — December 17, 2025 (https://punchng.com/fg-recorded-n30tn-revenue-shortfall-in-2025-edun/)

     

  • Senate tells FIRS to raise 2026 revenue target to ₦35trn, slams “multiple budgets”

    Senate tells FIRS to raise 2026 revenue target to ₦35trn, slams “multiple budgets”

    Photo credit: PunchNG (image on article page)
    2025-12-15

    According to The Punch, the Senate Committee on Finance criticised the Federal Government’s habit of running multiple budgets within a single fiscal year, warning it weakens fiscal discipline and planning.

    The report says the committee directed the Federal Inland Revenue Service (FIRS) to lift its 2026 revenue projection from ₦31tn to ₦35tn during discussions around the 2026–2028 MTEF/FSP.

    It also referenced a claimed revenue gap in the 2025 budget cycle, fueling arguments that rollovers and repeated revisions are becoming systemic.

    BusinessDay: “at least ₦35 trillion in revenue in 2026.”

    TheCable: “raise the 2026 target to N35 trillion from N31 trillion.”

    Analysis/Echotitbits take: This looks like early pressure-setting for 2026 budget negotiations. Watch whether FIRS follows with compliance tech, base-broadening, and enforcement—rather than new rate hikes—and whether the Executive adopts the higher benchmark.

    Source: The Punch — December 15, 2025 (https://punchng.com/senate-kicks-against-multiple-budgets-orders-firs-to-deliver-n35tn-revenue/)

  • FG projects nearly ₦1.9trn from new 4% Development Levy in 2026 budget year

    FG projects nearly ₦1.9trn from new 4% Development Levy in 2026 budget year

    According to The Punch, the Federal Government is projecting about ₦1.899 trillion from the newly introduced 4% Development Levy in 2026, as the levy begins to feature in budget planning following Nigeria’s 2025 tax reforms.

    Punch reported that the levy is structured as a consolidation mechanism, rolling multiple earmarked levies into one charge on assessable profits, with the aim of simplifying compliance and improving collection efficiency.

    Deloitte’s tax update on the reform package described the measure as an “introduction of 4% development levy to replace the Tertiary Education Tax and various levies,” stressing the compliance and administrative simplification angle.

    EY’s highlights of the Nigeria Tax Act 2025 similarly note that Section 59 replaces several earmarked taxes with a unified 4% development levy on assessable profits (with stated exclusions for certain company categories).

    Analysis/Echotitbits take: The test will be whether “consolidation” actually reduces friction for businesses or simply changes the label on compulsory payments. Watch for implementation guidance, agency handovers (who collects what and when), and whether the levy materially affects investment decisions—especially for sectors that previously paid some of the constituent levies at different effective rates.

    Source: The Punch — 14 Dec 2025 (https://punchng.com/fg-eyes-n1-9tn-from-new-2026-development-levy/)

     

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