The House of Representatives Committee on Appropriations, the Nigerian Minister of Finance and Coordinating Minister of the Economy, and the Minister of Budget and National Planning have assured Nigerians of improved budget performance before the end of the year, 2025.
The House, however, expressed concern over the pace of budget implementation so far.
The assurances came after a closed-door session with the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun; the Minister of Budget and National Planning, Mr. Abubakar Bagudu; the Debt Management Office; and the Accountant-General of the Federation in Abuja.
The chairman of the committee on finance, Mr. Abubakar Bichi, confirmed that the closed-door discussions, which lasted for over two hours, focused on the 2024 and 2025 appropriation acts.
The engagement went well; it was fantastic. We have discussed the 2024-25 appropriation act, and you know Nigerians are really concerned about the budget implementations, which are core mandates of the National Assembly. We have engaged with the Minister of Finance and the Minister of Budget; both of them acknowledge that, and they have agreed to work so hard that at least Nigerians can see the progress of the budget.” Mr. Bichi said.
He added that the budget was approved in February; the procurement process takes time, but implementation will start as soon as possible.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, said that implementation of the 2024 budget currently stands at about 80 per cent, with the National Assembly extending its lifespan until December.
He explained that priority projects include grassroots infrastructure such as roads and irrigation.
He noted that the government remains committed to implementing programmes that impact citizens’ livelihoods.
“As is customary, we reviewed the budget performance and looked at 2024. Basically, overall it’s around 80%, and as you know, the budget for 2024 was extended by the National Assembly till December. So, it is still running. It is still a work in progress.
“It’s still ongoing. Likewise, we looked at what is happening in 2025, and we put our heads together to ensure that, particularly the projects that touch the grassroots, that provide support and provide resources and facilities, the roads, irrigation, and other infrastructure projects at the grassroots level, are focused on and are given adequate attention and priority. And it’s an ongoing discussion. It’s an ongoing implementation of the budget faithfully and fully,” Mr. Edun said.
Similarly, the Minister of Budget and National Planning, Sen. Abubakar Bagudu, stressed the strong working relationship between the executive and legislature and said reforms under President Bola Ahmed Tinubu are producing results.
“The members of the National Assembly restated their appreciation of all the achievements of Under-President Bola Tinubu, and they commended the respect for the National Assembly and the excellent working relationship between the federal government. And they restated that they have supported all the major reform initiatives which have produced the result, including the latest tax reforms. It’s an ongoing discussion; the committee and the executive have interfaced, and we appreciate what we need to do better,” sen Bagudu said.
Both ministers reaffirmed the federal government’s commitment to full and effective implementation of the 2024 and 2025 budgets.