NDIC posts 97% budget performance, seeks N589.89bn for 2026

By Christiana Ekpa

The Nigeria Deposit Insurance Corporation (NDIC) has recorded a remarkable 97 per cent implementation of its 2025 budget, positioning itself among the top-performing government agencies in terms of fiscal discipline and execution.
This was disclosed the budget defence session before the House of Representatives Committee on Insurance and Actuarial Matters, where the NDIC Managing Director/Chief Executive, Mr. Thompson Oludare Sunday, presented the Corporation’s 2025 performance and proposed estimates for 2026.
Chairman of the Committee, Hon. Ahmed Jaha Babawo, commended the agency for its strong financial management, noting that its performance contrasts sharply with several Ministries, Departments and Agencies (MDAs) that recorded poor or zero capital budget implementation.
“I want to put it on record that NDIC is one of the agencies operating strictly under the Fiscal Responsibility framework on cost-to-income ratio,” Jaha said. “Fifty per cent of its generated income is remitted to the Consolidated Revenue Fund of the Federal Government, while the remaining 50 per cent is retained for operations.
“Despite this limitation, NDIC achieved nearly 97 per cent budget implementation in 2025. Many other agencies recorded zero performance, particularly on capital expenditure.
This achievement reflects its efficiency as a self-generating, government-owned enterprise operating within fiscal responsibility guidelines.”
For the 2026 fiscal year, the NDIC proposed a total budget of N589.89 billion, representing an increase of N151.22 billion over the 2025 appropriation.
According to Sunday, the projected total expenditure for 2026 stands at N250.46 billion equivalent to 50 per cent of the Corporation’s projected income in compliance with the cost-to-income ratio policy.
The Corporation also projected a surplus of N254.74 billion for 2026, with about N252.60 billion expected to be remitted to the Federal Government in line with statutory provisions.