The Nigeria Deposit Insurance Corporation (NDIC) has recorded an impressive 97 per cent implementation of its 2025 budget, a performance that stands in sharp contrast to the low execution rates recorded by several other Ministries, Departments and Agencies (MDAs), particularly in their capital expenditure components.
Chairman of the House Committee on Insurance and Actuarial Matters, Hon. Ahmed Babawo, made this observation during a budget defence session held on Thursday, following the presentation of the Corporation’s 2025 budget performance and its proposed 2026 estimates by the Managing Director/Chief Executive, Mr. Thompson Sunday.
The Chairman commended the agency’s fiscal discipline and efficient resource management, describing the 97 per cent implementation rate as “remarkable,” especially in a fiscal environment where many MDAs recorded minimal or zero capital budget implementation.
Earlier in his presentation, the NDIC Managing Director, Mr. Thompson Sunday, proposed a total budget of 589.89 billion naira for the 2026 fiscal year, explaining that the 2026 proposal represents an increase of 151.22 billion naira over the 2025 budget.
According to him, the projected total expenditure for 2026 stands at 250.46 billion naira, representing 50 per cent of the Corporation’s projected income, in compliance with the cost-to-income ratio policy.
The Managing Director emphasized that the projections were carefully structured to ensure regulatory stability, operational efficiency, and continued protection of depositors within the Nigerian financial system.
