FILE: President Bola Tinubu
Nigeria’s fiscal deficit under the 2026 Appropriation Act has exceeded the limit prescribed by the Fiscal Responsibility Act, according to a new report by the civic technology organisation, BudgIT.
In its latest report titled Federal Government Approved Budget Analysis 2026, the organisation said the approved budget projects revenue of N36.87tn against total expenditure of N68.32tn, left a financing gap of N31.45tn, equivalent to 6.41 per cent of the country’s Gross Domestic Product.
According to the report obtained by Sunday PUNCH, the projected deficit is more than double the three per cent ceiling stipulated under the Fiscal Responsibility Act, raising fresh concerns over the sustainability of Nigeria’s public finances.
The report also faulted key assumptions underpinning the 2026 budget, warning that ambitious revenue projections could further worsen the country’s debt burden if they are not realised.
