General News
Senate Questions Fiscal Projections, Weighs Possible Cut to N58.47trn 2026 Budget
Nigeria’s Senate has queried key members of the federal government’s economic team over what lawmakers described as unrealistic budget assumptions and persistent failures in capital project implementation, warning that the proposed N58.472 trillion 2026 budget may be reduced.
The scrutiny came Thursday during an interactive session between the Senate Committee on Appropriations and top finance officials. The panel, chaired by Solomon Olamilekan Adeola, focused on the feasibility of implementing the 2026 proposal and completing capital components of the 2024 and 2025 budgets by March 31, 2026.
The first official questioned was Wale Edun, Minister of Finance and Coordinating Minister of the Economy, whose explanation that capital components of the 2024 and 2025 budgets were still being funded failed to satisfy lawmakers.
In his defence, Zacch Adedeji, Chairman of the Nigeria Revenue Service, argued that unrealistic projections inevitably lead to poor implementation.
“Budget funding must come from realistic projections. Efficiency is not about the size of the budget but about how much can actually be implemented. If you assume you have one hundred units and spend accordingly, you may run into serious problems if the funds do not materialize,” he said.
However, Adeola countered that the budget framework originated from the executive arm, stressing that discrepancies between projected and actual oil revenues remained troubling.
He cited a wide performance gap, noting that an 18 percent revenue performance in one year contrasted sharply with a projection of 36.5 percent for the next year despite weak actual outcomes. He added that lawmakers must now decide whether to scale down the N58.472 trillion proposal or proceed with adjustments, warning that debt financing levels were already high.
According to him, asset disposal could help lower the national debt stock and reduce future borrowing costs.
Responding, Doris Nkiruka Uzoka-Anite, Minister of State for Finance, assured the committee that the remaining 30 percent capital components of both the 2024 and 2025 budgets would be fully implemented before March 31, 2026.
She disclosed that payment processes for outstanding 2024 capital projects had begun and that ministries, departments and agencies had been directed to upload their cash plans to enable releases.
“The financial management system is back online. For 2025, MDAs have been asked to upload their cash plans by Monday, after which payments will commence. We are ready to start, but the MDAs must complete their documentation requirements,” she said.
After the public session, the committee held a closed-door meeting with the economic team lasting nearly two hours. Among those present were Atiku Bagudu, Minister of Budget and Economic Planning, and Shamsedeen Babatunde Ogunjimi, Accountant-General of the Federation.
President Bola Ahmed Tinubu has urged voters, political parties, and security agencies to maintain calm, orderliness, and restraint ahead of Saturday’s elections in the Federal Capital Territory (FCT) and the states of Kano and Rivers.
The Independent National Electoral Commission (INEC) will conduct polls in the six area councils of the FCT, as well as bye-elections in Ahoada East II and Khana II constituencies in Rivers State, and Kano Municipal and Ungogo constituencies in Kano State.
In a statement, President Tinubu called on all eligible voters to participate without fear, stressing that democracy thrives in an atmosphere of tolerance and mutual respect. He appealed to political parties and candidates to avoid violence, inflammatory statements, or any actions that could undermine the electoral process.
The president also warned against intimidation or any form of disenfranchisement, emphasizing that security personnel are deployed to protect lives, property, and the integrity of the vote.
He further urged INEC to ensure smooth accreditation, accurate collation, timely transmission of results, and measures that strengthen voters’ confidence, in line with the 2026 Electoral Act.
“Fellow Nigerians, I commend your civic consciousness and assure you that these elections will reflect the will of the people, strengthening our democratic journey,” President Tinubu said.
President Bola Ahmed Tinubu has called on voters, security agencies, and officials of the Independent National Electoral Commission to conduct themselves in an orderly manner during Saturday’s polls in the Federal Capital Territory and the states of Kano and Rivers.
The President issued the call in a statement on Friday. Bayo Onanuga, Special Adviser to the President on Information and Strategy, signed the press release detailing the President’s appeal.
INEC will conduct elections in the six area councils of the FCT and bye-elections in the Ahoada East II and Khana II State constituencies of Rivers State, and in the Kano Municipal and Ungogo constituencies in Kano State.
President Tinubu urged all eligible voters to come out and vote without fear, emphasising that the democratic process thrives best in an atmosphere of calm, tolerance, and mutual respect.
He appealed to political parties, candidates, and their supporters to shun violence, inflammatory statements, and actions that undermine the credibility of the process.
He cautioned against any form of high-handedness, intimidation, or actions that could disenfranchise voters or erode public trust, stressing that security personnel are present to protect lives, property, and the sanctity of the ballot.
President Tinubu appealed to the Commission to take all necessary measures to bolster voters’ confidence by ensuring timely accreditation, smooth voting processes, accurate collation, and prompt transmission of results, in line with the 2026 Electoral Act.
Onanuga quoted the President as assuring Nigerians of continued government support for institutions responsible for delivering free, fair, and credible elections.
“Fellow Nigerians, I assure you that the Federal Government under my administration will continue to support institutions responsible for delivering free, fair, and credible elections,” President Tinubu said.
“To all residents of the FCT, Kano and Rivers, I commend your civic consciousness. I am confident that these elections will reflect the will of the people and further strengthen our democratic journey as a nation,” the President added.
The United Nations Children’s Fund (UNICEF) says Nigeria has recorded a significant increase in birth registration over the past two years, with 14 million children officially registered.
UNICEF Country Representative to Nigeria, Wafaa Saeed Abdelatef, disclosed this during a courtesy visit to Nigeria’s First Lady, Oluremi Tinubu, at the State House in Abuja on Friday.
Abdelatef described birth registration as the first right of every child, noting that it ensures children are counted, recognised, and legally identified. She said the progress recorded in Nigeria within two years is remarkable.
“Birth registration is the first right of every child to be counted and recognised. I have served in many places, but I have not seen this level of progress achieved within two years,” she said.
She added that the birth registration system is being digitalised at health facilities nationwide to improve efficiency and access.
According to her, a bill currently before the National Assembly is also expected to strengthen the process, attributing the progress to strong national leadership.
Abdelatef commended the First Lady for her leadership and commitment to initiatives that impact children and families across the country.
She also referenced her participation at events hosted by the First Lady, including the launch of a food bank and engagements linked to the Renewed Hope Agenda.
In her remarks, Tinubu acknowledged UNICEF’s longstanding support to Nigeria, emphasising that birth registration must continue until every Nigerian child is documented.
“Every child counts,” she said, stressing that legal identity and nationality are essential for integrating children into health and social services.
The First Lady said she was encouraged by the progress recorded but noted that more work remains to be done.
“We have to keep at it and make sure that every child is counted. It is not just about birth registration alone; we are also looking at birth certificates,” she said.
Tinubu also highlighted the importance of accurate population data, noting that Nigeria has not conducted a census in many years. She said focusing on registering children would help the government better plan for health, education, and other social services.
While expressing satisfaction with improvements in birth registration, the First Lady raised concerns over the high rates of tuberculosis, HIV/AIDS, and child and maternal mortality in the country.
“Nigeria has a huge population.
When it comes to tuberculosis, HIV/AIDS, and child and maternal mortality, the numbers are still high, and that is worrisome,” she said.
She, however, assured that the current administration is taking steps to address these challenges and position the country for a better future.
Tinubu thanked UNICEF for its continued partnership and pledged further collaboration, noting that the organisation has consistently provided reliable data to support government planning and policy implementation.