…Lawmakers raise concerns over fiscal direction
By Charles Ebi
There are uncertainties in the country’s fiscal and economic policy direction as the federal government has not started the implementation of the 2025 budget, barely four months to the end of the fiscal year.
Recall that the government had sought for and obtained the approval of the National Assembly for the extension of the implementation of the capital component of the 2024 Budget till December 2025.
The implication of this is that there is no definite date for the presentation of the 2026 budget proposal.
The National Assembly had, earlier in the year, directed the executive arm to present the 2026 budget proposal to the legislature by September 2025.
However, it would amount to a mere academic exercise for the executive to present the 2026 budget estimates in the circumstances.
Speaking on the development, the Chairman, House of Representatives Committee on Appropriation, Abubakar Bichi, said last Wednesday that the implementation of the 2025 Budget would soon begin.
Bichi spoke at the National Assembly, shortly after a meeting with the federal government’s economic team, led by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun.
The committee chairman said discussions with the Edun team were restricted to the 2024 and 2025 budgets, stressing that Nigerians are concerned about the wide gap in budget implementation.
“We have engaged with the Minister of Finance and Minister of Budget, both of them acknowledged that, and they have agreed to work hard so that at least Nigerians can see the progress of the budget”, Bichi said.
The Reps Member said lawmakers are also worried about the low budget implementation and the attendant economic dislocations.
“Basically, members are concerned seriously about that and Minister of Budget and Minister of Finance also confirmed to us that Nigerians will see a lot of changes and developments in this budget”.
While assuring that the 2024-2025 budgets will be fully implemented “as soon as possible” Bichi said Nigerians will see “serious changes” between now and the end of the year.
The lawmaker dismissed the probability of the executive arm presenting a supplementary budget for 2025, saying that there was no such discussions during the meeting with the economic team.
The committee chairman recalled that the 2025 Budget was approved in February but that there were many challenges concerning implementation.
When asked about his expectations of the 2026 budget proposal, he declared that he could not say anything about it, “I don’t know, honestly”, he said.
Commenting on the development, Edun, said, “As is customary, we reviewed the budget performance, looked at 2024. Basically, overall it’s around 80%”.
Members of the Minister’s team emphasised that the 2024 budget is still running and that its progress is being monitored.
One of them, Shamsudeen Ogunjimi, said, “We looked at what is happening in 2025, and we put heads together to ensure that, particularly the projects that touch the grassroots, that provide support and provide resources and facilities — the roads, irrigation, other infrastructure projects at the grassroots level are focused on and given adequate attention and priority.
“And it’s an ongoing discussion. It’s an ongoing implementation of the budget faithfully and fully”.
Also speaking, the Minister of Budget and Economic Planning, Senator Atiku Bagudu, thanked the National Assembly for supporting President Bola Tinubu’s reforms and economic policies.
Bagudu, however, said the lawmakers charged the economic team to do better regarding budget implementation.
