**NDIC Scores Big, Proposes N589.89bn for 2026** The Nigeria Deposit Insurance Corporation (NDIC) has made a remarkable achievement by implementing 97% of its 2025 budget, leaving many other government agencies in the dust. This impressive feat was revealed during a budget defence session where the Managing Director of NDIC, Mr. Thompson Sunday, presented the agency's 2026 budget proposal to the House of Representatives Committee on Insurance and Actuarial Matters. NDIC's success story is a testament to its efficient management of funds within the fiscal responsibility guidelines. As a self-generating, government-owned enterprise, the agency has been able to manage its revenue effectively, despite the limitations imposed by the 50% cost-to-income ratio policy. While some agencies recorded zero% budget performance, NDIC's achievement is a shining example of good financial management. For 2026, NDIC has proposed a total budget of N589.89 billion, representing an increase of N151.22 billion over the 2025 budget. The agency's projected total expenditure for 2026 stands at N250.46 billion, which is in line with the cost-to-income ratio policy. Notably, NDIC is also projecting a surplus of N254.74 billion for 2026, with 50% of this amount, approximately N252.60 billion, set to be remitted to the Federal Government. Meanwhile, the National Insurance Commission (NAICOM) has also presented its budget proposal for 2026, with a total expenditure of ₦25.667 billion and a projected net revenue of ₦25.702 billion. The Commissioner for Insurance at NAICOM, Olusegun Omosehin, attributed the increase in Internally Generated Revenue (IGR) to new revenue-generating initiatives and tighter controls to curb leakages. NAICOM has also commenced the recapitalisation of insurance firms as part of its broader restructuring agenda to reform, rebuild, and recapitalise the sector. In conclusion, the NDIC's impressive budget performance and proposed budget for 2026 are a welcome development, showcasing the agency's commitment to good financial management. With the NAICOM's efforts to reform the insurance sector, there is hope for a more robust and efficient financial system in Nigeria.