Minister of Finance and Coordinating Minister of the Economy, Wale Edun, said on Wednesday that the government has successfully implemented about 80 percent of the capital component of the 2024 budget, whose tenure has been extended to December 2025 by the National Assembly.
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The minister spoke at a meeting with the House of Representatives Committee on Appropriation on the performance of the 2024/2025 budget.
Edu told newsmen after the closed-door meeting with the lawmakers that, “Overall, implementation is at about 80 per cent. As you know, the National Assembly extended the 2024 budget till December, and so, it is still running.
“We also reviewed the 2025 budget, focusing on grassroots projects and critical infrastructure such as roads, irrigation, and other facilities that directly impact Nigerians.
“As is customary, we reviewed the budget performance, looked at 2024, basically, overall it’s around 80 per cent. 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.
“And 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, which provide support, resources, and facilities, like irrigation and other infrastructure projects at the grassroots level, are focused on and are given adequate attention and priority. So discussion is ongoing on the implementation of the budget faithfully and fully.”
The Minister said the meeting did not discuss alleged concerns over additional spending, saying there was no discussion on a supplementary budget for 2025.
Chairman of the House Committee on Appropriations, Abubakar Bichi, said the meeting became necessary because Nigerians were increasingly worried about the level of implementation of the budget
Bichi said the engagement was part of the National Assembly’s constitutional mandate to monitor budget performance and ensure effective service delivery.
He said, “We have engaged with the Ministers of Finance and Budget; both acknowledged the concerns and assured us of their commitment to work harder so that Nigerians can begin to see visible results from the budget.
“Our members are seriously concerned, and the ministers have promised that before the end of this year, Nigerians will witness significant changes and developments. They have given us their word, and we will be monitoring closely”.
Also speaking, the Minister of Budget and National Planning, Senator Atiku Bagudu, said the committee recognized and commended the achievements recorded under President Bola Tinubu’s administration.
He noted that lawmakers particularly appreciated the Executive’s respect for the National Assembly and the cordial working relationship between both arms of government.
“The National Assembly has supported all major reform initiatives of this administration, including the recent tax reforms, which are already yielding results. Our engagement today helped to identify areas where improvements are still required,” he said.
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