The House of Representatives Committee on Appropriation on Wednesday summoned Nigeria’s key economic managers Minister of Finance Wale Edun, Minister of Budget and Economic Planning Atiku Bagudu, and Chairman of the Nigerian Revenue Service (NRS) Zach Adedeji over the alleged non-implementation of the 2025 capital budget despite improved revenues and excess earnings recorded during the fiscal year.
The lawmakers, chaired by Hon. Abubakar Bichi Abubakar, expressed outrage during the budget defence session, describing the zero releases for capital components as a major setback that has stalled critical projects, slowed economic activities across Ministries, Departments and Agencies (MDAs), and undermined national development.
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Hon. Bichi explained that the interface was convened to scrutinise the poor performance of the 2025 budget and examine proposals for the 2026 fiscal year.
He said: “We decided to engage the President’s economic team to discuss the performance of the 2025 budget as well as the proposed 2026 estimates. Nigerians deserve transparency on how revenues are being managed.”
The committee highlighted that government revenue in 2025 rose to approximately N28 trillion, surpassing the N25 trillion target, yet capital funds remained unreleased.
Lawmakers also recalled that the National Assembly approved an executive request for N1.15 trillion to fund parts of the 2025 capital budget, questioning why implementation stood at zero despite legislative approval.
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Minister of Finance Wale Edun attributed the situation to the government’s decision to halt “unsustainable” practices, including financing obligations through excessive money printing. He noted that the administration inherited huge liabilities, including naira-denominated debt of about N152 trillion, partly from exchange rate adjustments and previously unrecorded obligations.
Minister of Budget and Economic Planning Atiku Bagudu said engagements with the National Assembly allowed for the rollover of about 70 per cent of the 2025 capital allocation into 2026, which has been incorporated into the 2026 budget proposal. He added that his ministry relies on data from the Ministry of Finance and the Office of the Accountant-General for tracking.
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NRS Chairman Zach Adedeji defended his agency, stating that the revenue service exceeded its 2025 target, generating N28.23 trillion against a projected N25.2 trillion.
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Lawmakers’ Dissatisfaction The explanations failed to satisfy many members of the committee, who expressed frustration with Edun, Bagudu and Minister of State for Finance Doris Uzoka-Anite over budget implementation. Some cited earlier testimony by the Minister of Health, Prof. Ali Pate, who reportedly disclosed that his ministry received only N38 million out of N286 billion allocated in the 2025 budget.
The committee chairman appealed for calm and suspended the sitting pending the appearance of the Minister of State for Finance. The hearing was adjourned to today (Thursday) at 1:00 p.m.
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The summons comes amid growing concerns over capital budget performance. In January 2026, the Association of Indigenous Contractors in Nigeria protested at the Ministry of Finance over alleged non-payment of more than N4 trillion for contracts executed under the 2024 budget.
The development has renewed calls for fiscal discipline, transparency in revenue management and timely releases to drive infrastructure and economic growth ahead of the 2027 elections.
DDNewsOnline – Lagos
By Ogungbayi Beedee Adeyemi
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