FGN
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The Federal Government of Nigeria is targeting higher revenue from Government-Owned Enterprises (GOEs) in 2026, with a projected revenue of ₦34.33 trillion, including ₦4.98 trillion from GOEs. This represents a significant increase from previous years, driven by improved tax administration, ongoing reforms in the oil and gas sector, and enhanced efficiency across GOEs .
The government plans to achieve this target through various measures, including the implementation of new National Tax Acts, end-to-end digitisation of revenue collection, and stricter performance monitoring of Ministries, Departments, and Agencies (MDAs). Additionally, heads of revenue-generating agencies will be held accountable for meeting assigned targets, with remittances tied to performance evaluations .
Some of the top revenue-generating GOEs include the Nigerian Port Authority, Nigerian Customs Service, Nigerian Communication Commission, and Nigeria Civil Aviation Authority. These enterprises are expected to contribute significantly to the government’s revenue target .
The government’s focus on increasing revenue from GOEs is part of its broader strategy to consolidate economic reforms, strengthen resilience, and promote shared prosperity. The 2026 budget is anchored on improved tax administration, ongoing reforms in the oil and gas sector, and enhanced efficiency across GOEs.
However, experts have expressed concerns about the feasibility of the revenue target, citing persistent revenue underperformance, volatile oil receipts, and structural leakages within the domestic revenue system. They recommend that the government intensify tax audits, expedite digital tax administration reforms, and tighten approval of exemptions to achieve the target.
The government’s revenue projection is based on a conservative crude oil benchmark of $64.85 per barrel, oil production of 1.8 million barrels per day, and an exchange rate of ₦1,512/$1.
Would you like to know more about the government’s plans to improve revenue collection from GOEs or the potential challenges facing the 2026 budget?
