The Senate, through its Committee on Appropriations, on Thursday confronted the Federal Government’s Economic team over what it described as persistent poor budget implementation, marked by zero or minimal releases of capital funds to Ministries, Departments and Agencies (MDAs).
The Committee, chaired by Solomon Olamilekan (APC, Ogun West), raised the concerns during a critical interactive session with members of the Economic team.
The meeting focused on ensuring realistic implementation of the proposed N58.472 trillion 2026 budget and concluding the capital components of the 2024 and 2025 budgets by March 31, 2026.
First to face questions from the panel was the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
His explanation that the capital components of the 2024 and 2025 budgets were still being funded was deemed unsatisfactory by the Committee.
However, the Chairman of Nigeria Revenue Service (NRS), Zacch Adedeji, defended the Economic team, arguing that unrealistic budget assumptions cannot result in realistic implementation.
In response, Senator Olamilekan reminded the NRS boss that budget proposals originate from the Executive arm of government, of which the revenue service is a key component.
The Minister of State for Finance, Doris Uzoka-Anite, assured the Committee that full implementation of the 30 per cent capital component of both the 2024 and 2025 budgets would be completed before March 31, 2026.
She added that for the 2025 fiscal year, MDAs have been directed to upload their cash plans by Monday, after which payments will commence.
The Senate Committee later went into a closed-door session with the Economic team, which lasted about two hours.
Also present at the session were the Minister of Budget and Economic Planning, Atiku Bagudu, and the Accountant-General of the Federation, Shamsedeen Ogunjimi.
Editor: Ken Eseni
