The Federal Government says it will finance the N23.85 trillion deficit in the proposed 2026 budget through an “aggressive, digitised revenue mobilisation drive,” rather than excessive borrowing. The Minister of Information and National Orientation, Mohammed Idris, disclosed this on Monday at the government’s end-of-year press conference in Abuja.
Idris said the funding plan was based on prudent fiscal assumptions, including oil priced at $64.85 per barrel, production of 1.84 million barrels per day, and an exchange rate of N1,400 to the dollar. “We will fund the deficit through an aggressive, digitised revenue mobilisation drive, ensuring that every liable entity pays its fair share,” he said.
President Bola Tinubu last week presented the N58.18 trillion 2026 Appropriation Bill, with N26.08 trillion earmarked for capital projects. Idris said the budget aligns with new tax reform laws aimed at accountability and growth, urging Nigerians to support reforms despite short-term challenges. “The temporary pains of reform are yielding to permanent gains,” he said.