The Nigeria Deposit Insurance Corporation (NDIC) has achieved a remarkable 97% implementation of its 2025 budget, far outperforming many other government agencies, especially in capital projects.
The strong performance was highlighted during a presentation to the House of Representatives Committee on Insurance and Actuarial Matters.
NDIC Managing Director/Chief Executive, Mr. Thompson Sunday, proposed a ₦589.89 billion budget for 2026—an increase of ₦151.22 billion from the previous year.
The 2026 proposal includes projected expenditure of ₦250.46 billion, adhering to the Corporation's 50% cost-to-income ratio policy under the Fiscal Responsibility Act.
NDIC anticipates a ₦254.74 billion surplus, with 50% (about ₦252.60 billion) remitted to the Federal Government as dividends, boosting federal revenues.
Committee Chairman Hon. Ahmed Babawo praised the NDIC, stating it strictly follows fiscal guidelines while delivering near-perfect execution: “Despite limitations, NDIC has achieved nearly 97 per cent budget implementation for 2025, while some agencies recorded zero per cent, particularly on capital components.”
As a self-sustaining deposit insurer, the NDIC's efficient revenue management supports depositor protection, bank resolution, and financial stability.
The proposed 2026 budget will enhance these efforts amid ongoing economic reforms.
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