The House of Representatives Committee on Appropriation on Wednesday held a high-stakes hearing marked by intense scrutiny and calls for the resignation of key members of President Bola Ahmed Tinubu’s economic team. The confrontation centered on the “zero implementation” of capital projects in the 2025 fiscal year, despite the government reportedly exceeding its revenue targets.
The session, led by Committee Chairman Hon. Abubakar Bichi, featured testimony from the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; the Minister of Budget and Economic Planning, Atiku Bagudu; and the Chairman of the Nigeria Revenue Service (NRS), Zach Adedeji.
Chairman Bichi opened the proceedings by highlighting a stark contradiction: the NRS reported a revenue generation of ₦28.23 trillion in 2025 surpassing the initial target of ₦25.2 trillion yet MDAs across the federation report receiving zero funding for capital expenditures
“We decided to engage the economic team to discuss the performance of 2025. In 2025, we achieved about 28 trillion in revenue from a target of 25 trillion,” Bichi stated. “Nigerians need to know why, despite this and the approval of ₦1.15 trillion for capital components, no funds have been released for projects.”
Finance Minister Wale Edun defended the administration’s fiscal strategy, citing a move away from “unsustainable” practices. He noted that the government has ceased the printing of money to service debts or pay contractors, focusing instead on regularizing Nigeria’s ₦152 trillion debt profile, much of which was impacted by exchange rate adjustments.
Minister Atiku Bagudu further explained that, following consultations with the National Assembly, 70% of the 2025 capital expenditure had been deferred to the 2026 fiscal year. He clarified that his ministry relies on the Office of the Accountant-General for real-time implementation data.
The atmosphere turned rowdy as lawmakers expressed frustration over the disconnect between the Treasury’s reports and the reality of the MDAs. Notable highlights included:
Health Sector Neglect: Reports that the Ministry of Health received only ₦38 million out of a budgeted ₦286 billion.
Contractor Protests: Reference to the ₦4 trillion in unpaid debts to indigenous contractors, which lawmakers claim has contributed to the “near collapse” of the economy.
Calls for Resignation: Several members of the Committee openly demanded the resignation of the ministers, citing “incompetence” in executing the 2025 Appropriation Act.
The hearing was briefly disrupted by the heated exchange before being brought under control by Chairman Bichi. The Committee has officially adjourned proceedings until Thursday at 1:00 PM, summoning the Minister of State for Finance, Doris Uzoka-Anite, to provide further clarification on the missing fund releases.
