Nigeria’s 2026 Borrowing Plan Surges to N29.2 Trillion Amid Widening Deficit

By Enemona Samuel Endurance The Federal Government has raised its planned 2026 borrowing to N29.2 trillion in response to a larger budget and a growing fiscal gap. The revised figure appears in the Appropriation Bill approved by the National Assembly and marks an N11.31 trillion increase from earlier projections. Revenues for 2026 are forecast at N36.87 trillion, while total expenditure stands at N68.32 trillion. The resulting N31.46 trillion deficit will be largely financed through domestic and external debt, with additional funding from asset sales and project-tied loans. Debt service costs will reach N15.81 trillion next year, split between domestic and foreign obligations. Despite revenue enhancements—such as a higher oil benchmark and contributions from telecom firms—the heavier reliance on borrowing underscores concerns about Nigeria’s long-term fiscal sustainability.

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