The Nigeria Deposit Insurance Corporation (NDIC) has recorded an impressive 97 per cent implementation rate of its 2025 budget, a performance commended by lawmakers, and presented a ₦589.89 billion proposed budget for the 2026 fiscal year to the House of Representatives Committee on Insurance and Actuarial Matters.
During a budget defence session, the Committee’s chairman, Hon. Ahmed Jaha Babawo, highlighted that the near-complete execution of the 2025 budget especially at a time many agencies struggle with implementation, particularly in capital components reflects strong fiscal discipline and efficient use of internally generated revenue by the NDIC.
Presenting the 2026 estimates, NDIC’s Managing Director/Chief Executive, Thompson Oludare Sunday, outlined the ₦589.89 billion expenditure plan, marking an increase of approximately ₦151.22 billion over the 2025 appropriation. Under the Fiscal Responsibility framework, the Corporation projects total expenditure of ₦250.46 billion equivalent to 50 per cent of expected income and a surplus of ₦254.74 billion, of which about ₦252.60 billion will be remitted to the Federal Government as required by law.
NDIC officials said the proposed budget is structured to enhance regulatory stability, strengthen operational efficiency and support its core mandate of protecting depositors and promoting financial system stability.
The strong implementation performance and robust spending plan come amid broader discussions on revenue management and fiscal discipline within federal agencies. Lawmakers praised NDIC’s self-funding model and urged other agencies to emulate its financial discipline.
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