…slams Finance Minister over non-implement of 2025 budget
By Sanni Abdullahi
ABUJA— A heated exchange broke out in the National Assembly on Tuesday as Senator Mohammed Tahir Monguno, representing Borno North Senatorial District, confronted the Minister of Finance, Taiwo Oyedele, over the Federal Government’s failure to implement the 2025 budget and the retention of over ₦1.7 trillion in federal revenue.
Monguno accused the executive of breaching the law by failing to spend budgeted funds, warning that the development amounted to an “impeachable offence.”
“Where are these monies going to? This is my question. Why is the budget not being implemented?” Monguno asked during the budget defense session.
The senator said about 70% of the 2025 budget was rolled over into 2026 after the government failed to meet its own target of implementing 30% by March. The National Assembly later extended the budget’s lifespan to September to allow for that 30% to be executed.
“The issue of the 2026 budget has not even arisen. It has not even started,” he said. “So, don’t you think this is contradictory? It is through the implementation of the budget that the dividends of democracy are brought to the doorsteps of the people. If the budget is not being implemented, what is the function of government?”
Monguno raised particular concern over funding for security.
“For example, the security of lives and property is the primary responsibility of government. All the security agencies we have interacted with have reported to us that they have received zero allocation for capital expenditure,” he said.
He also questioned the Federation Accounts Allocation Committee’s disbursement figures for last month.
“About ₦3.7 trillion was received last month, and only ₦2 trillion was disbursed to the three tiers of government. About ₦1.7 trillion was retained. Why? Why was ₦1.7 trillion retained? Why not disburse the entire ₦3.7 trillion to the three tiers of government?”
Responding, Minister Oyedele sought to clarify what he described as widespread misconceptions around government borrowing and revenue reporting.
“I think there is a need for some clarification on how debt numbers are reported,” Oyedele said.
He continued: “For external loans, we always need the approval of the National Assembly. What tends to happen is that when we get the approval, the media rightly reports it. Many people take that as money already borrowed.”
He cited the $20 billion external borrowing approval granted by the National Assembly under the Medium Term Expenditure Framework, saying the figure was being wrongly quoted as debt already incurred.
“We have not exceeded what the National Assembly approved. In fact, we have not even taken half of what the National Assembly approved,” the minister stated.
“We are currently finalising this breakdown in the Ministry of Finance. We will make it available to the public. It will show how much the National Assembly approved, how much we have actually borrowed, and how it has been spent.”
On overall debt, Oyedele said public debt stood at about ₦75 trillion when the Tinubu administration assumed office, and that comparisons between then and now were often misleading.
“We are also guided by the Fiscal Responsibility Act, which only allows the government to borrow for capital expenditure and human development. We are mindful of that,” he added.
The development on the floor of the National Assembly is a demonstration of growing legislative frustration over budget performance, with lawmakers set to intensify oversight ahead of deliberations on the 2026 budget proposal.
The Ministry of Finance said it would release the detailed breakdown of approved, borrowed, and spent funds in the coming weeks.
