The National Assembly has expressed concerns over the disproportionate allocation of funds between recurrent and capital expenditures in the 2024 budget, citing inadequate releases for capital projects in Ministries, Departments, and Agencies (MDAs).
Speaking during a joint session with the Presidential Economic Team, the Chairpersons of the Senate and House Committees on Appropriations highlighted that the 2024 budget has so far achieved an overall performance of just 43%. While recurrent expenditure has been fully implemented at 100%, capital expenditure lags significantly at 25%.
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In a statement issued on Wednesday, Senator Solomon Adeola and Honourable Abubakar Birchi, who chair the Senate and House Committees respectively, called for immediate steps to bolster funding for capital projects. They stressed that such investments directly benefit the wider population, contrasting sharply with recurrent expenditures, which primarily serve a limited segment of government personnel.
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