An eigenmode equation for collisional electrostatic drift waves in general axisymmetric toroidal geometry is derived and solved numerically for a low‐&bgr; spheromak. In the calculation of the density responses, the ions are treated as a cold fluid, and the electrons are assumed to be isothermal. The electron–ion collision operator is approximated by a friction term in the parallel component of the electron momentum equation, and the perturbation analysis includes the self‐consistent equilibrium electron current dynamics. Large toroidal mode numbers are assumed and use is made of the simplifying ballooning mode representation. The main destabilizing mechanism found here comes from electron–ion collisions. For the parameters considered, the mode frequency and growth rate are hardly affected by the equilibrium current driving terms.