The National Assembly has expressed dissatisfaction with the Tinubu administration’s implementation of the 2024 national budget. Lawmakers criticised the disparity between recurrent and capital expenditure, highlighting the low release of funds for capital projects.

Senator Solomon Adeola and Hon. Abubakar Birchi, chairmen of the Senate and House Committees on Appropriation, made their concerns known during a joint session with the Presidential Economic Team.

A report presented by Finance Minister Wale Edun revealed that while recurrent expenditure achieved 100% implementation, capital expenditure performance stood at a meagre 25%.

Adeola argued for a shift in budget priorities, stating: “Capital projects drive economic activities and impact the majority of Nigerians. The non-release of funds for these projects is a significant concern.”

Birchi echoed this sentiment, calling for urgent action to fund infrastructure projects such as schools, roads, and hospitals. He suggested that debt repayments could be restructured to prioritise capital spending.

Finance Minister Edun acknowledged the funding challenges but cautioned against unsustainable borrowing practices. Meanwhile, Budget Minister Abubakar Bagudu defended the high recurrent expenditure, attributing it to security operations and legacy liabilities, including unpaid pensions.

The session concluded with calls for legislative reforms to cap recurrent expenditure and ensure balanced budget implementation.