1 hour ago
2
The House of Representatives on Wednesday summoned the Minister of Finance, Wale Edun, Minister of Budget and Economic Planning, Atiku Bagudu, and Chairman of the Nigerian Revenue Service, NRS, Mr. Zach Adedeji, over the zero implementation of the 2025 capital budget despite the country’s excess revenue.
The session, chaired by Abubakar Bichi, Chairman of the House Committee on Appropriation, was convened to probe why approved funds for capital projects remained unutilized, grounding projects across sectors and agencies.
Bichi said, “We have decided to engage the economic team of the President to discuss the previous performance of the 2025, as well as the proposed 2026. We need more information so Nigerians who are watching will be informed.”
Edun defended the administration, saying, “We stopped the unsustainable methodology of printing money, whether to pay debt service, contractors, or meet other obligations of government. We were moving from a position of irregularity to regularizing.”
Bagudu added, “Meetings with the Appropriation Committee allowed us to move 70 percent of the 2025 capital into 2026. This has been included in the 2026 budget proposal before the National Assembly.”
Adedeji also highlighted the revenue performance, stating, “Our agency generated N28.23 trillion in 2025, surpassing the target of N25.2 trillion.”
Lawmakers, however, expressed frustration over stalled projects, at times yelling at the ministers and demanding resignations. “This zero capital release is unacceptable. Nigerians deserve competent leadership,” one lawmaker shouted.
The committee adjourned the session to Thursday by 1:00 pm, for the appearance of the Minister of State for Finance, Doris Uzoka-Anite.
The confrontation comes amid widespread concerns over unpaid contracts, including N4 trillion owed to contractors under the 2024 budget, which many lawmakers say threatens the nation’s economic stability.
