FG Raises 2026 Borrowing Plan by ₦11.31trn to ₦29.20trn as Fiscal Deficit Hits ₦31.46trn

The Federal Government has increased its planned borrowing for 2026 by ₦11.31 trillion to ₦29.20 trillion, up from an earlier projection of ₦17.89 trillion. The revised figures are contained in the 2026 Appropriation Bill approved by the National Assembly.

Fiscal deficit is now estimated at ₦31.46 trillion, while total government expenditure is projected at ₦68.32 trillion. Debt service is projected at ₦15.81 trillion, with domestic debt service accounting for ₦10.16 trillion and foreign debt obligations at ₦5.36 trillion.

Key Points:

Borrowing has nearly doubled from initial projections.
Debt servicing will consume a huge portion of the budget.
Capital expenditure is projected at ₦32.29 trillion.
Revenue is expected at ₦36.87 trillion, leaving a wide deficit.
MTN and Airtel are projected to contribute additional tax revenue.

Sources: Channels Television