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Nigeria misses 20.74 trillion naira revenue target

By , based on Punch

Nigeria misses 20.74 trillion naira revenue targetIllustrative image · RDNE Stock project · Pexels · Licence Pexels

Nigeria’s statutory revenue reached 26.14 trillion naira between January and October 2026, 20.74 trillion naira below the 46.87 trillion budget target. The shortfall represents 44.24% of the period’s target, according to figures from the Office of the Accountant-General of the Federation analysed by Punch.

Nigeria’s statutory revenue reached 26.14 trillion naira between January and October 2026, 20.74 trillion naira less than the 46.87 trillion naira budgeted for that period. The shortfall represents 44.24% of the target, according to a Punch analysis based on the Federation Account Allocation report prepared by the Office of the Accountant-General of the Federation.

Monthly revenue remained below target, despite a marked improvement between May and August following a rise in oil prices caused by the war between the United States and Iran. The technical subcommittee’s report, dated 14 October and covering the August 2026 accounts, was obtained by Punch on Monday.

Bonny Light, Nigeria’s main crude oil export, was worth $123.97 a barrel on 22 October, compared with an average of $70.14 before the conflict began, an increase of 76.75%. This price was also $59.12, or 91.16%, above the benchmark price of $64.85 used in the 2026 federal budget, according to figures reported by Punch.

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