NDIC Achieves 97% Budget Execution, Proposes N589.9bn for 2026

The Nigeria Deposit Insurance Corporation (NDIC) achieved a 97% execution rate of its 2025 budget, as disclosed by Ahm Jaha, Chairman of the House of Representatives Committee on Insurance, during a budget defense session. The agency's Managing Director and Chief Executive, Oludar Sundai, presented the performance and proposed a budget of N589.9 billion for the 2026 fiscal year, which represents an increase of N151.22 billion from the 2025 appropriation.

The projected total expenditure for 2026 is N250.46 billion, with an expected income line cost ratio policy projecting a surplus of N254.74 billion. The NDIC aims to strengthen regulatory stability and enhance operational efficiency while safeguarding depositors.

The agency's performance reflects a disciplined approach to cost management and reliance on internally generated revenue. Additionally, Olusegun Omosehin, Commissioner of Insurance at NAICOM, noted an expected rise in net revenue for 2026 to N34.27 billion, attributing growth to new revenue measures and tighter controls.