Senate questions ₦58.7tn 2026 budget as lawmakers decry poor 2025 implementation

The Senate on Tuesday confronted the president’s economic team over what it described as weak implementation of the 2025 budget and unrealistic assumptions underpinning the proposed ₦58.7tn 2026 spending plan, raising the prospect of trimming the proposal.

At a tense budget defence before the Senate committee on appropriations, lawmakers cited widespread complaints of non-funding by ministries, departments and agencies (MDAs), alongside reports of unpaid contractors and delayed capital releases.

Several senators described the session as one of the most unsatisfactory in recent years, pointing to a controversial centralised payment system and the country’s rising debt profile as additional causes for concern.

Dissatisfied with the explanations offered by the minister of finance and coordinating minister of the economy, Wale Edun, the committee turned to the chairman of the national revenue service, Zacch Adedeji, for clarification.

Adedeji acknowledged that previous budgets had often been built on flawed assumptions, arguing that unrealistic projections had consistently undermined effective implementation.

“When assumptions are not real, there will be a problem. That is what we intend to correct this year. It must be based on realistic budgeting. Efficiency lies in what you can actually execute,” he said, urging lawmakers to anchor appropriations on credible revenue forecasts.

The committee chair, Senator Adeola Olamilekan, questioned whether the economic team had sufficient confidence in delivering the proposed 2026 envelope.

“The indication is that you do not have full confidence in the ₦58.7tn budget. Do we reduce this budget or leave it as it is? If it is faulty and we are not reducing it, then you are saying you will meet it?” he asked.

Responding to further questions on the performance of the 2025 budget, the minister of state for finance said the federal government was prepared to begin settling outstanding obligations.

She said MDAs had been directed, with immediate effect, to upload cash plans covering all pending liabilities, adding that payments would commence immediately or, at the latest, by Monday.

After the exchanges, the committee moved into a closed-door session.