The Senate Committee on Finance has raised concerns over the practice of carrying forward uncompleted capital projects from one budget year to the next. The committee said this undermines fiscal discipline and called for reforms in budget execution ahead of the 2026 fiscal year.
Committee members criticised the Federal Government for realising only a fraction of projected revenues for the current fiscal year, contributing to shortfalls and rollovers of planned spending.
The senators urged the Federal Inland Revenue Service to raise Nigeria’s 2026 revenue target to N35 trillion to improve domestic revenue mobilisation and reduce dependence on external borrowing.
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The Finance Minister told the committee that revenue projections for 2025 had fallen significantly short of expectations, affecting the execution of capital projects.
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