Echotitbits – Nigeria News

Tag: public finance

  • 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/)

     

  • Revenue sharing formula review gains steam amid calls for deeper fiscal federalism

    Revenue sharing formula review gains steam amid calls for deeper fiscal federalism

    PunchNG (illustrative image)
    2025-08-24

    Writing in ThisDay, analysts argue Nigeria’s revenue sharing formula is due for a rethink, noting the structure continues to shape monthly allocations and fiscal behaviour across the three tiers of government.

    The debate ties into calls for deeper fiscal federalism so responsibilities and resources better align at subnational levels.

    Any review is likely to reopen negotiations around derivation, VAT sharing and constitutional constraints.

    PRNigeria: “RMAFC commenced a review of the revenue sharing formula…”

    The Punch (editorial): “for a new allocation formula…”

    Analysis/Echotitbits take: The hardest part is political bargaining over who gains and who loses. Watch for a formal RMAFC proposal, National Assembly timelines, and whether derivation/VAT sharing becomes the main flashpoint.

    Source: ThisDay — August 24, 2025 (https://www.thisdaylive.com/2025/08/24/issues-in-the-revenue-sharing-formula/)

  • FAAC shares ₦2.094trn to FG, states and LGAs from October revenue

    FAAC shares ₦2.094trn to FG, states and LGAs from October revenue

    PunchNG (illustrative image)
    2025-11-01

    From a Federal Ministry of Finance update, FAAC shared ₦2.094 trillion as federation allocation for October 2025, drawn from a gross total of ₦2.934 trillion.

    Monthly FAAC inflows shape state liquidity, wage payments, and capital spending, while also reflecting swings in oil receipts, VAT and other revenue lines.

    The breakdown highlights why fiscal planning remains sensitive to revenue volatility.

    Vanguard: “distributed a total of N2.094 trillion…”

    TheCable: “shared… N2.09 trillion for October.”

    Analysis/Echotitbits take: Volatility remains the headline risk. Watch how non-oil reforms affect VAT and statutory inflows, and whether states publish clearer spending outcomes tied to FAAC receipts.

    Source: Federal Ministry of Finance (Nigeria) — November 01, 2025 (https://finance.gov.ng/fg-states-lgcs-share-n2-094-trillion-from-a-gross-total-of-n2-934-trillion-for-the-month-of-october-2025/)

  • 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/)

  • SERAP threatens legal action over ₦6tn NDDC judgment and transparency demands

    SERAP threatens legal action over ₦6tn NDDC judgment and transparency demands

    2025-12-14 13:23:00

    According to The Punch, SERAP says it may sue the Attorney-General of the Federation over issues linked to a reported ₦6tn judgment involving the NDDC and broader accountability concerns.

    The group’s stance, as reported, focuses on transparency demands and what it argues should be the public’s right to clarity on large judgment-related liabilities.

    Such legal threats can trigger official responses, document releases, or court filings that shed more light on how liabilities are incurred and handled.

    Analysis/Echotitbits take: If litigation proceeds, the most important developments will be court filings and verified documents—not social media summaries. Watch for statements from the AGF’s office, NDDC, and any court timetable that could force disclosures.

    Source: The Punch — December 14, 2025 — https://www.worldstagenews.com/serap-threatens-contempt-to-sue-agf-fagbemi-over-failure-to-enforce-judgment-on-alleged-n6tn-nddc-scandal/

    Photo credit: WorldStage

    WorldStage https://www.worldstagenews.com/serap-threatens-contempt-to-sue-agf-fagbemi-over-failure-to-enforce-judgment-on-alleged-n6tn-nddc-scandal/ December 14, 2025

  • ICPC says it recovered ₦37.4bn and $2.35m through forfeitures in 2025

    ICPC says it recovered ₦37.4bn and $2.35m through forfeitures in 2025

    2025-12-15 03:57:00

    According to The Punch, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) says it recovered about ₦37.44bn and $2.35m in 2025 through seizures and forfeitures.

    The report frames the figure as part of the commission’s asset recovery efforts, reflecting a focus on tracing proceeds and enforcing forfeiture orders.

    Anti-graft recoveries are often followed by questions about how forfeited assets are managed and whether recovered sums are transparently remitted to government accounts.

    Analysis/Echotitbits take: Beyond headline totals, the public interest is in traceability and impact—where the assets went, how they’re valued, and how proceeds are applied. Watch for detailed breakdowns, court orders, and any inter-agency coordination updates with EFCC/CCB.

    Source: The Punch — December 15, 2025 — https://punchng.com/icpc-recovers-n37-4bn-2-35m-in-2025/

    Photo credit: The Punch

    The Punch https://punchng.com/icpc-recovers-n37-4bn-2-35m-in-2025/ December 15, 2025

  • Report says FG committed about ₦1.9trn to airport upgrades over two years

    Report says FG committed about ₦1.9trn to airport upgrades over two years

    2025-12-14

    According to The Punch, a report says the Federal Government approved or committed roughly ₦1.9 trillion to airport upgrades over a two-year period, spanning equipment, safety systems and infrastructure improvements.

    The report links the spending to plans to modernise aviation facilities and strengthen safety and operational reliability across airports.

    The Guardian Nigeria reported related approvals around navigation and communication upgrades and described the effort as a comprehensive modernisation drive for air safety.

    BizWatch Nigeria also reported the overhaul and said it is aimed at improving air safety and modernising aviation infrastructure.

    Analysis/Echotitbits take: The real measure isn’t the headline figure but delivery: which airports get what upgrades, whether timelines are met, and whether maintenance capacity is built into procurement. Watch for project breakdowns, independent oversight, and whether upgrades reduce delays, incidents and operating costs for airlines and passengers.

    Source: The Punch — 14 Dec 2025 (https://punchng.com/fg-earmarked-n1-9tn-for-airport-upgrades-in-two-years-report/)

  • FG Bans Cash Collections at MDAs, Orders POS Rollout

    The Federal Government has directed ministries, departments and agencies to stop accepting physical cash for revenue payments and migrate to approved electronic channels, including POS solutions. The policy is aimed at improving revenue transparency and reducing leakages.

    The directive is expected to reshape how citizens pay for federal services and strengthen the Treasury Single Account-driven collections framework.

    2025-12-08

    Punch

    2025-12-08