Report Forecasts Nigeria’s Fiscal Deficit Widening to N25.7tn, 4.9% of GDP

.Projects N184.9tn public debt

.Says debt distress risk remains moderate

Nume Ekeghe

A report by CardinalStone has projected that Nigeria’s fiscal deficit will widen to N25.7 trillion, representing 4.9 per cent of Gross Domestic Product (GDP), by the end of 2026, as elevated government spending continues to outpace revenue growth despite ongoing fiscal reforms, Research has said.

The investment firm’s 2026 Mid-Year Outlook, titled, “Steady Hands-on Shifting Grounds,” noted that although fiscal reforms have significantly strengthened government revenues, expenditure remains substantially higher.