Behind Closed Doors: Tinubu’s Minister Opts For Private Session Amid Fuel Subsidy Tension

Nigerian Senators have continued to voice concerns over the implementation of the 2024 Budget.....KINDLY READ THE FULL STORY HERE▶

During a session on Thursday with the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Minister of Budget and Planning, Atiku Abubakar Bagudu, the Senate Committee on Appropriations sought clarity on the use of funds saved from the removal of the fuel subsidy and the performance of Government-Owned Enterprises.

Joint Committees on Appropriations from both chambers of the National Assembly previously raised issues regarding the imbalance between Recurrent and Capital Expenditures in the 2024 Budget.

Committee Chair Senator Solomon Olamilekan Adeola pressed the ministers for details on the performance of capital expenditures and the allocation of proceeds from subsidy removal. Senator Abdul Ningi of Bauchi Central demanded specific figures on fuel subsidy proceeds and debt servicing.

“I have listened to the ministers’ submissions, but my concerns remain unaddressed,” Ningi stated. “We are tasked with budget oversight, yet we lack clear figures on capital and recurrent expenditures or the current budget performance. These details are vital for public transparency and our deliberations.”

He further demanded an explanation of how subsidy savings have been utilized and projections for debt servicing in 2025. Ningi also questioned the potential economic benefits of extending the 2024 budget implementation to June 2025.

Senator Adetokunbo Abiru of Lagos East acknowledged improvements in revenue collection during the third quarter of 2024 but criticized the lack of transparency regarding revenues from Government-Owned Enterprises, particularly remittances from the Nigerian Liquefied Natural Gas (NLNG).

Amid mounting scrutiny, Wale Edun requested a closed-door session, prompting journalists to leave the Senate Committee room.

Before the private discussion, Senator Tahir Monguno of Borno North, the Senate Chief Whip, attributed delays in budget implementation to the centralised payment system introduced by the current administration. This system, managed by the Office of the Accountant General, replaced a decentralised approach previously used by ministries, departments, and agencies, causing bureaucratic inefficiencies.

“There is a growing belief that one major obstacle to the capital budget’s success is the administration’s ‘bottom-top approach,’ which centralises payment processing,” Monguno stated.

Minority Leader Senator Abba Moro also criticised delays in the Executive arm’s budget submissions, warning that such inefficiencies threaten the consistency of the January-December budget cycle.