The lawmakers said the non-release of funds can result in the abandonment of projects and affect budget performance.
The National Assembly on Wednesday complained about poor release of funds to Ministries Departments and Agencies (MDAs) of the federal government for implementation of capital projects as contained in the 2024 budget.
Chairman of the Senate Committee on Appropriations, Adeola Olamilekan, and his counterpart in the House of Representatives, Abubakar Bichi, made the complaint during a meeting with the economic team of the federal government held at the National Assembly complex.
The 2024 budget is still ongoing. Last December, the two chambers of the National Assembly extended the implementation of the capital component of the 2024 budget till 30 June 2025.
The extension followed a request by President Bola Tinubu that the implementation of the budget should be extended to allow the government to complete ongoing projects captured in the budgets.
During the meeting, the lawmakers urged the federal government economic team to ensure adequate release of funds for MDAs before expiration of the 2024 budget for implementation of capital projects such as construction of roads, schools, dams, hospitals and other social infrastructural projects.
Specifically, Mr Olamilekan, who represents Ogun West Senatorial District, said the non-release of funds can result in the abandonment of projects and affect budget performance.
"Capital releases to MDAs are the major drivers of economic activities within the nation.
"Non release of funds for capital projects is a major issue in the performance of 2024 Budget so far and it is desirable that funds are released to prevent abandoned projects and ensure the success of the Renewed Hope Agenda of the president," the senator added.
On his part, Mr Bichi, who represents Bichi federal constituency of Kano State, emphasised that capital projects such as schools, hospitals and roads across the country will benefit many Nigerians.
"Most of the items of recurrent expenditure which takes a huge part of our budget and is implemented 100 per cent will only directly affect about 10 per cent of our population while capital projects of the MDAs will directly affect majority of over 200 million Nigerians in areas of social infrastructures provisions like hospitals, schools, roads, energy and similar," he stated.
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Economic Team responds
Responding, the federal government economic team led by Minister of Finance and Coordinating Minister of the Economy, Wale Edun, confirmed that the government has outstanding capital releases to the MDAs.
Mr Edun assured that the government will address the issue.
Also, the Minister of Budget and National Planning, Abubakar Bagudu, said the recurrent expenditure in the 2025 budget showed the government's commitment to fighting insecurity and stimulating agricultural production and economic activities.
