Isaac Samuel
The Federal Government Wednesday declared that the performance of the 2024 budget has reached about 80 per cent, with critical projects still underway across the country.
Minister of Finance and Coordinating Minister of the Economy, Wale Edun, disclosed this during an engagement with the House of Representatives Committee on Appropriation, chaired by Hon. Abubakar Bichi.
Edun, who appeared alongside the Minister of Budget and Economic Planning, Senator Atiku Bagudu, the Director-General of the Budget Office, Tanimu Yakubu and the Accountant-General of the Federation, Shamsedeen Ogunjimi, said the implementation of the 2024 budget was extended by the National Assembly until December, hence execution remains a work in progress.
The minister said: “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 heads together to ensure that particularly the projects that touch the grass roots, that provide support, resources and facilities, like irrigation, other infrastructure projects at the grass roots level are focused on and are given adequate attention and priority. So discussion is on ongoing implementation of the budget faithfully and fully.
On concerns over additional spending, Edun clarified that there was no discussion on a supplementary budget for 2025.
Bagudu, on his part, said members of the National Assembly commended the Federal Government’s respect for legislative oversight and the cordial relationship between both arms of government.
He noted that lawmakers restated their support for President Bola Tinubu’s reform initiatives, including tax reforms, which he said were already yielding results.
Committee chairman Bichi described the engagement as fantastic, stressing that lawmakers are keen on ensuring Nigerians feel the impact of the budget.
He said though members of the National Assembly and Nigerians were concerned about the level of budget implementation, the ministers have assured that more progress will be made.
“We didn’t discuss anything about a supplementary budget. The focus now is on accelerating the execution of the 2024–25 Appropriation Act so Nigerians can see tangible changes before the end of the year,” he said.
