Nigeria misses 10-month revenue target by N20.7tn
Nigeria’s statutory revenue fell N20.74tn short of its budget target in the first 10 months of 2026, despite a sharp increase in crude oil prices. Read More: https://punchng.com/nigeria-misses-10-month-revenue-target-by-n20-7tn/
Nigeria's statutory revenue allocation fell short of its budget target by N20.74tn in the first 10 months of 2026, despite a surge in crude oil prices caused by the U.S.-Iran war. Figures from the Federation Account income distribution report revealed that statutory revenue stood at N26.14tn between January and October, compared to the budget projection of N46.87tn for the period.
The shortfall accounted for 44.24% of the total budgeted amount. The government consistently missed monthly statutory revenue targets, even as receipts improved significantly between May and August due to the conflict and global oil supply disruptions. However, the increased prices have not translated into sufficient revenue to meet monthly budget targets.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
