Senators pressed the finance minister on the status of the 2024 budget implementation, particularly the allocation for capital expenditures.
The senate has called on ministers and heads of Ministries, Departments, and Agencies (MDAs) to provide detailed explanations regarding various government policies under their supervision. The call came during separate budget defense sessions organised by senate committees on Thursday.
Among those questioned were Wale Edun, minister of finance and coordinating minister for the economy, and Sen. Atiku Bagudu, minister of budget and economic planning. Both were asked to address key issues surrounding the fuel subsidy removal, its financial implications, and the expenditure on debt servicing for 2024.
Meanwhile, Mr. Lanre Issa-Onilu, the Director General of the National Orientation Agency (NOA), was called to explain the rationale behind the national identity project spearheaded by the agency.
In a session organised by the senate committee on appropriations, Sen. Abdul Ningi (PDP, Bauchi Central) pressed the minister of finance on the status of the 2024 budget implementation, particularly the allocation for capital expenditures. Ningi sought clarity on how proceeds from the fuel subsidy removal were being used, asking, “What is the budget performance achieved so far, for 2024 fiscal year, particularly in terms of the capital expenditure.”
He also queried whether the minister could guarantee that the extended deadline for capital projects in the 2024 budget set for June 30, 2025 would lead to meaningful progress, given the current low implementation rate.
“We haven’t heard from the minister how much has been saved from the removal of fuel subsidy and how much has been expended.
“We also haven’t heard from the ministers about the debt servicing. How much have we actually used to service our debt in 2004?
“How much are we expecting to service the debt in 2005? Finally, will the minister of finance guarantee that the extension of the capital component of the 2024 budget to June 30, 2025 will give the desired results in terms of implementation that has a very low percentage now?” he queried.
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In response, Minister Edun requested the session be moved into an executive (closed-door) session, which the committee, led by Sen. Solomon Olamilekan (APC, Ogun West), granted. “If we are not in a closed-door session, I would request that we move to one to provide more detailed explanations,” Edun said.
Separately, Issa-Onilu and Ali Mohammed Ali, the Director General of the News Agency of Nigeria (NAN), were questioned during their respective budget defense sessions with the senate committee on information and national orientation. Senators directed both officials to revisit and revise their 2025 budget proposals for resubmission.
The committee, chaired by Sen. Kenneth Eze (APC, Ebonyi Central), focused heavily on the national identity project, expressing concerns that many Nigerians, particularly those in rural areas, were not adequately informed about its importance. In response, Issa-Onilu emphasised the crucial role of a national identity system in strengthening national values, unity, and development. “The challenge we have about value system is about national identity which is very necessary at galvanising Nigerians for nation building, national development and growth,” he said.
However, the committee insisted that he should return with a more detailed and realistic proposal for the project to be considered and properly funded in the 2025 fiscal year. Similarly, the DG of NAN was instructed to reconcile discrepancies in the figures provided for 2024 budget implementation before re-submitting his agency’s budget request for 2025.
