FG records N4.69trn fiscal deficit in Q1’26 as revenue falls
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Verified Synthesis~36s readThis came as Nigeria’s economy grew by 3.89 per cent in real terms during the quarter, driven by improved performance in the oil and non-oil sectors. Nigeria’s economy grows 3.89% – Budget Office By Udeme Akpan The Federal Government (FG) recorded an aggregate fiscal deficit of N4.69 trillion in the first quarter of 2026, as revenue generation fell significantly below target, highlighting challenges in financing the 2026 budget.
Context & Background
- ✦Nigeria’s economy grows 3.89% On economic performance, the Budget Office reported that the oil sector grew by 2.57 per cent year-on-year in real terms during the first quarter, up by 0.70 percentage points from 1.87 per cent recorded in the corresponding period of 2025.
Key Figures & Named Entities
2026:Nigeria’s economy grows 3.89% – Budget Office By Udeme Akpan The Federal Government (FG) recorded an aggregate fiscal deficit of N4.69 trillion in the first quarter of 2026, as revenue generation fell significantly below target, highlighting challenges in financing the 2026 budget.2026:Figures from the Budget Office of the Federation (BOF), contained in its 2026 Budget Performance Report, showed that the fiscal deficit was N4.69 trillion, compared with the prorated target of N7.86 trillion for the January–March period, representing N3.18 trillion below projection.2025:Nigeria’s economy grows 3.89% On economic performance, the Budget Office reported that the oil sector grew by 2.57 per cent year-on-year in real terms during the first quarter, up by 0.70 percentage points from 1.87 per cent recorded in the corresponding period of 2025.
Outlook & Next Steps
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Key Takeaways
Verified Extract- This came as Nigeria’s economy grew by 3.89 per cent in real terms during the quarter, driven by improved performance in the oil and non-oil sectors.
- Nigeria’s economy grows 3.89% – Budget Office By Udeme Akpan The Federal Government (FG) recorded an aggregate fiscal deficit of N4.69 trillion in the first quarter of 2026, as revenue generation fell significantly below target, highlighting challenges in financing the 2026 budget.
- Nigeria’s economy grows 3.89% On economic performance, the Budget Office reported that the oil sector grew by 2.57 per cent year-on-year in real terms during the first quarter, up by 0.70 percentage points from 1.87 per cent recorded in the corresponding period of 2025.
Key Facts:2026: Nigeria’s economy grows 3.89% – Budget Office By Udeme Akpan The Federal Government (FG) recorded an aggregate fiscal deficit of N4.69 trillion in the first quarter of 2026, as revenue generation fell significantly below target, highlighting challenges in financing the 2026 budget.2026: Figures from the Budget Office of the Federation (BOF), contained in its 2026 Budget Performance Report, showed that the fiscal deficit was N4.69 trillion, compared with the prorated target of N7.86 trillion for the January–March period, representing N3.18 trillion below projection.2025: Nigeria’s economy grows 3.89% On economic performance, the Budget Office reported that the oil sector grew by 2.57 per cent year-on-year in real terms during the first quarter, up by 0.70 percentage points from 1.87 per cent recorded in the corresponding period of 2025.2026: It stated: “Improving revenue collections in the subsequent quarters of the year is critical to the successful execution of the 2026 Budget.” The report said the government would intensify efforts to improve economic growth and revenue generation, while controlling recurrent expenditure, particularly personnel costs.
Editorial Excerpt
The report said government would intensify efforts to improve economic growth and revenue generation, while controlling recurrent expenditure
Frequently Asked Questions About This Story
What is the key takeaway from this report?
This came as Nigeria’s economy grew by 3.89 per cent in real terms during the quarter, driven by improved performance in the oil and non-oil sectors.
What additional context is highlighted in this report?
Nigeria’s economy grows 3.89% – Budget Office By Udeme Akpan The Federal Government (FG) recorded an aggregate fiscal deficit of N4.69 trillion in the first quarter of 2026, as revenue generation fell significantly below target, highlighting challenges in financing the 2026 budget.
What timeline or key figures were confirmed?
Nigeria’s economy grows 3.89% – Budget Office By Udeme Akpan The Federal Government (FG) recorded an aggregate fiscal deficit of N4.69 trillion in the first quarter of 2026, as revenue generation fell significantly below target, highlighting challenges in financing the 2026 budget.
